Collectors, investors and dealers in rare and valuable coins, banknotes, medals and tokens can now verify the authenticity of items certified by the US-based Professional Coin Grading Service by tapping an NFC chip embedded in PCGS holders with their smartphone.
PCGS has begun inserting NFC chips developed by HID Global in its coin and banknote holders to combat counterfeiting, to provide information about the items they contain, and to confirm that they are genuine and have PCGS Cert Verification.
“The NFC technology has become necessary in a day and age when counterfeit coins and banknotes are more sophisticated than ever before,” PCGS explains.
“To combat this, PCGS partnered with HID Global to insert NFC technology in all holders, including PCGS banknote holders, to provide peace of mind that collectibles within PCGS holders are 100% authentic and are in the grade or condition that is stated on the label.”
“This technology, similar to the chip found in the credit cards in your wallet, is the single biggest leap forward for third-party grading since its inception,” adds PCGS president Brett Charville.
“While it may affect our pocketbook down the line, I would hope that every other third-party grading service in the industry considers integrating similar technology into their product lines as well. It’s simply that important for the hobby as a whole.”
A short video shows how the NFC anti-counterfeiting technology works: