Idea About Certificating Coins With Nft

The physical coin still needs to be somewhere. Where will that be?

Is a seller going to responsible for shipping & transfer of the NFT? Will additional handling charges be added for the time and hassle it takes to setup an NFT transfer? What if the buyer isn't and doesn't care to be 2022 with an NFT account? Would sellers limit their audience to only those who can accept an NFT too? What if they want the coin and not the NFT?

At the end of the day the coin itself and possessing the actual thing is what matters, no?

@tan, I think that you bring up an interesting difference between many coins and digital images: the coins can have intrinsic value beyond the collectibility.

NFTs aren't normally attached to physical objects - they are attached to digital objects, which are much easier to "steal" and replicate.

A coin, as a piece of money, is indeed "fungible", but as others have already pointed out, a collector coin in a slab is already "non-fungible token" - it has a unique code (the slab certificate number) which, when combined with an actual photo of the coin in the slab kept on the slabber's website and a "registry" of owners of slabbed coins, is as unique as a fingerprint.

Of course, keeping coins in slabs, using the Registry etc is all completely voluntary. Without some degree of compulsion (eg. somehow forcing all coin sellers to use them), any attempt at using such means as assurance of security for coin collectors is doomed to failure.

Hi @Collects82, those are good questions. The idea is really a platform to facilitate the binding of NFT to physical coins and the system of transaction for such physical-virtual complete coins. Notice here, with the binding of NFT, a coin is represented by both its physical and virtual form. Lacking one of them means it is not the same coin. For example, a 100 years old gold coin pre-owned by MJ, just an imaginary example right ^-^, how the buyer knows this coin was owned by MJ once upon a time without its binding NFT which shows the full history of this coin? With only the physical coin, it is just a physical coin which worth $100 let's say, but together with its NFT showing its full ownership history, it may worth $1000. In this sense, a buyer only wants the physical one could go get a physical one for $100, but the seller of this particular coin would limit the buyers to those who value both the physical coin as well as its history. It was its history worth the premium. Same theory, why an MS state 1800s nickel (if it exists) worth much more than its base metal value? Its history!, Its scarcity. If you don't care about its history, bullion is the answer, if you appreciate its history, I don't see why you just want the physical one.

In terms of extra fee for transaction. This is always the case, with or without NFT. Selling in ebay, 17% of nominal price goes to ebay, and shipping fees also counted as cost too, since the buyer pay nominal price + shipping fee to get the coin, for him, the cost of the coin is its nominal price + shipping. Even for free shipping deal, you really believe the shipping is free? In auction site such as Canadian numismatic company's auction, buyer pay another 17 to 20% of nominal price as transaction fee to the auctioneer + shipping. Adding NFT, sure will add more transaction fee for the NFT itself. But considering the extra potential value increase by the NFT, it may worth it. After all, you pay extra cost to get sth. more valuable, the question is does it worth it.

It is possible to just get the NFT but not the physical coin, yes, perhaps. But for me, this is an experiment to combine physical stuff with virtual stuff. I don't like the idea of Metaverse and then the Matrix in the future, but I see it's coming no matter what. If we can have a method to combine physical world and virtual world, but not pure virtual, we might be able to change to steering wheel to a different direction. So I don't consider pure NFT transaction. A complete transaction should include two steps, ship the coin physically to the next owner, the next owner use the physical coin to validate the complete of NFT transaction. Without the physical coin, even you have the NFT, you cannot facilitate a transaction. Without the physical coin, you cannot complete the NFT transaction. When it comes to the transaction process design, only if we believe the idea is sth. worth a try, then we can discuss deeper, before that, we don't need to consider that too much.

Making a fake coin in a fake slab is indeed easy. Making a fake coin in a fake slab that looks identical to the coin in the picture on the slab-maker's website is much, much harder. Particularly for older coins. Matching toning and the distinctive location of dints, flaws and scratches is virtually impossible and I've never heard of a fake-maker going to that much trouble. I admit it doesn't apply as easily for modern NCLT in un-toned condition that usually lack such visible flaws and defects, though the fake-makers are rarely as good as a proper mint in making perfect, pristine-looking coins. In both cases, the fake-sellers tend to rely on blurry pictures of the slabbed coin, and hope that "people buy the slab, not the coin".

As long as there are blow torches and thieves completely unworkable .
To a thief druggy a 1921 half is a piece of junk silver that buys a hit .
Big coin robberies (ours included ) are almost never solved .

In my opinion, you can keep your NFT's, Bitcoins, or any other form of fiat monopoly money. For me the only hard asset is having physical possession of the real deal.