PCGS adds security feature to products
- Published: Oct 15, 2020, 7 PM
Professional Coin Grading Service will begin embedding Near Field Communication technology in all its encapsulations for coins, medals, tokens, and paper money.
This firm initially limited the rollout of the technology earlier this year to coins graded in PCGS Gold Shield holders, to test compatibility and user response.
The NFC technology enables collectors to tap their holders with a phone, launching certification information on the device’s screen. “This data ensures collectors, dealers, customers, and others that the coin or banknote stated on the label is indeed the piece inside the holder,” according to PCGS.
PCGS partnered with HID Global to insert NFC technology in all holders, including PCGS Banknote holders.
In recent years, counterfeit coins in counterfeit third-party grading service slabs have entered the marketplace. Legitimate companies have sought to introduce technology aimed at combatting the counterfeiting of grading service slabs. In addition to the PCGS effort, Amos Media Co. (publisher of Coin World) announced in 2019 the development of the Coin World+ app and service. The service offers to tag third-party grading service slabs with NFC labels. The app is designed to read the label to provide authentication and information about the coin.
Use of PCGS technology requires use of an Android or iPhone XS (or newer) device loaded with the app. “All they need to do is put those devices close to the chip, opening a web browser on the phone with information about the slab and coin or banknote within. The PCGS Cert Verification will automatically load on phones that have that app installed. Go to https://www.pcgs.com/apps.