PCGS - Professional Coin Grading Service (www.PCGS.com) has announced that it will begin embedding Near Field Communication (NFC) technology in all its encapsulated coins, medals, tokens, and banknotes in October 2020. This revolutionary advancement launches after an initial limited rollout earlier this year with coins graded in PCGS Gold Shield holders to test compatibility and user response, both of which were overwhelmingly positive.
"PCGS is the industry leader in fighting counterfeiting," says PCGS President Brett Charville. "PCGS has always been ahead of the curve in the numismatic industry regarding technology, and the inclusion of NFC technology is just the latest way we can stay one step ahead of counterfeiters and ensure collectors and dealers that their PCGS coins and banknotes are exactly what the label promises."
Adds Charville, "you collect, we protect."
Simply holding a compatible smartphone close to the holder reveals information about the coin, banknote, token, or medal per PCGS Cert Verification, ensuring the item within the holder is as stated on the label.
PCGS, which in the spring became the first company in the numismatic industry to utilize NFC technology and remains the sole third-party grading service offering this technology, enables collectors to tap their holders with a phone, launching certification information right on the device's screen. This data ensure collectors, dealers, customers, and others that the coin or banknote stated on the label is indeed the piece inside the holder. The NFC technology has become necessary in a day and age when counterfeit coins and banknotes are more sophisticated than ever before. 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.
PCGS-graded coin and banknote holders now feature an NFC symbol on the obverse of the label. Coin holders also feature this symbol on the front bottom left of the holder.
NFC inserts require no new hardware or any software updates. They are solid-state and have no moving parts, do not contain any sort of battery, and will be encased in the same industry-leading holder that keeps your coins and banknotes safe. Therefore, without the risk of exposure to the elements and damage, expect these inserts to last beyond the general expected lifespan of 100,000+ scans and 40+ years. That means a collector scanning the NFC insert in any given PCGS holder can do so worry-free. NFC technology works by exchanging encrypted technology between itself and another NFC-enabled device, such as a smartphone.
Example 1899 $5 Silver Certificate holdered with NFC technology.
"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. 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," urges Charville.
Those using an Android or iPhone XS (or newer) already have everything they need to benefit from PCGS's NFC technology upgrade. 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; the app can be installed for free by visiting https://www.PCGS.com/apps.
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Q: Do I Need to Download an App? A: If your device has an active NFC reader, putting the phone in proximity of the holder will automatically launch the PCGS Cert Verification app if it is already installed. If you do not have that app, it will open a web browser to display the information about the slab and the coin or banknote within.
To take full advantage of this security and anti-counterfeiting technology, we recommend downloading the PCGS Cert Verification app (https://www.PCGS.com/apps).
Q: Will This Work on My Device? A: Android phones as of 2012 and iPhone XS (or newer) phones already have NFC readers available. You may need to turn on this feature in settings [link to videos if we do them on these settings]. On models iPhone 7 through iPhone X, the inserts can be read by downloading an NFC reader app. Meanwhile, iPhones 6SE and older as well as pre-2012 Android phones are incompatible with NFC technology in our holders.
Q: How Close Does My Device Need to Be? A: The range can vary, but NFC readers usually have a maximum range of approximately four inches.
Q: Can I Use the Barcode? A: Yes, the barcode will still work with the PCGS Cert Verification app, however the QR code will not appear on labels going forward.
Q: Is There an Extra Cost? A: As of October 2020, NFC technology will be included in all PCGS coin and banknote holders at no additional cost.
Q: Are the NFC anti-counterfeiting technology inserts Secure? A: Yes, when used in conjunction with the PCGS Cert Verification app, this technology is the most secure anti-counterfeiting technology available in our market. The NFC technology insert contains a uniform resource locator (URL) generating a unique, cryptographic one-time password (OTP) that changes every time the insert is tapped. This password is validated by the HID Trusted Tag® Cloud Authentication service to prove that it is the exact same tag that was issued with the slab. Our integration with this system allows Cert Verification to confirm the authenticity of the insert and flag any potential issues.
Q: How Can I Tell if a Holder has NFC Technology? A: As of October 2020, all PCGS holders with NFC technology can be identified with the new NFC symbol featuring a shield with three bands above it on the reverse of the slab and/or in the bottom left corner in the holder itself located within the plastic. Note that some coins with special labels may only feature the symbol in the bottom left obverse of the holder.
Q: What if Mine Doesn't Work? A: The first step we recommend is ensuring your coin includes an NFC insert by looking for the NFC symbols on the reverse and/or obverse of the coin holder. Next, we recommend checking your device compatibility and settings to assure that your NFC reader is on and that you have a reliable connection to the internet. If you find that the feature is still not functioning correctly, please contact PCGS Customer Service at 1-800-447-8848.
Q: How Long Does NFC technology Last? A: NFC inserts are solid-state and have no moving parts, do not contain any sort of battery, and will be encased in the same industry-leading holder that keeps your coins and banknotes safe. Therefore, without the risk of exposure to the elements and damage, we expect NFC technology to last beyond the general expected lifespan of 100,000+ scans and 40+ years.
Interesting. But 40+ years seems a bit short sighted. PCGS turns 35 soon. Do they not expect the company and the hobby to be around for the next 40 years? Or that technology will change so much that will make the NFC idea obsolete?
Quote: 40+ years is the expected lifespan of the NFC tag (any of them) if shielded from harmful environmental elements.
I get that. I am just concerned what they are planning to do in 40 years. Especially, as far as I can tell, there is no way to date a holder other than by type. In other words, in 2060 any coin that is in a current style holder and has a non-functional NFC tag might be a counterfeit slab or a 40 year genuine one.
Looks like a step in the right direction to try to keep ahead of the counterfeiters. I'm not too worried about the 40 years—the chips might last much longer than that, and the technology will likely be obsolete long before then anyway.
Quote: The nerd in me kind of wishes all of my PCGS Ike already had this.
PCGS has a reholder special going on until the end of the year for this.
Quote: For a limited time, get free PCGS Gold Shield with free TrueView Imaging when you submit your coins through our Reholder service. And with the rollout of NFC technology to all PCGS holders, each coin submitted with this promotion will receive NFC technology inserts, providing enhanced anti-counterfeiting capabilities and easy cert verification for your items.
Small adaptation of the suggestions made back in 2007 when the first fake slabs started showing up, to include RFID chips in them. So the "interesting idea" was put forth 13 years ago.
Sometimes a good idea is ahead of its time. In my opinion, this feature is better utilised by a smartphone app than it would have been with a computer (with additional software and peripheral device installation required).
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Posted 10/01/2020 9:31 pm
