New Way To Photograph And Store Data About Coins?

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Author	Replies: 5 / Views: 2,566
rggoodie Moderator United States 23507 Posts	Posted 01/09/2010 09:18 am Has anyone experimented with this new device for photographing, mapping and recording coin data? Quote: The CP16 Coin Analyzer™ scans each coin, finding the unique characteristics of that coin and storing them in a CoinPrint™ ID file similar to a fingerprint file. An individualized serial number is added to this identification record. This CoinPrint™ is stored in a central database, enabling future identification of the coin by its own unique characteristics. Once identified, the linked serial number and image files may be retrieved. This affords new market opportunities: * Creating ownership records * Reducing insurance premiums * Providing counterfeit & fraud protection * Advanced quality control information * Added value by creating serialized coins Coins become more like numbered lithographs, which directly carry their serial number within the art itself. The coins can be scanned and have the serial numbers verified at time of purchase or sale with distributed units at coin dealers and elsewhere. This is a great improvement over current practices, such as adding a small paper certificate which is not secure and can easily be separated, lost or fraudulently duplicated. Additionally, the system produces a digital image of the coin at the time of scanning. This digital image is also stored in the database along with the CoinPrintTM, adding extra system value and secondary identification. The imaging system has a computerized illumination component, consisting of a ring of 48 LEDs, each individually controlled. This allows a custom illumination pattern to be optimized for each coin and stored in the system for use whenever the same type of coin is scanned. * The ability to digitally fingerprint each coin and store the identity in a central database that can be remotely searched on a one-to-many basis offers a powerful tool to help reduce fraud, theft and loss on a worldwide basis * The speed of the one-to-many search algorithm allows thousands of comparisons a second, far beyond any current method of cataloging collectable coins * The registration of gold and silver bullion coins can provide a safeguard worthy of reductions in insurance premiums for holding precious metals * A historic pedigree of each registered coin can be created allowing ownership records of key coins to be traced for future generations of collectors besides taking a photo of the coin it does make teh data very specific to the coin. here is the site with the information http://www.coinsecure.com/intro.htm I was impressed with what it did not with the price US $ 4500.00 rggoodie aka Richard "catch em doing something right" Report this Post to the Staff

nohope587 Pillar of the Community United States 5953 Posts	Posted 01/09/2010 09:32 am No but it was only a matter of time before something like this came out. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 01/09/2010 12:01 pm This is stepping very close to PCGS' patent holdings on the technology. Report this Post to the Staff
nohope587 Pillar of the Community United States 5953 Posts	Posted 01/09/2010 1:13 pm So if you ding a coin it will no longer have the same signature, and proving it is the same coin as the original scanned one may turn out to be a problem. Report this Post to the Staff
livingdinasaur Pillar of the Community United States 1571 Posts	Posted 01/10/2010 7:48 pm I don't think it will be that drastic. A "ding" will only register as a 'change in the characteristics, but NOT to the identity, IMHO. the 'ding" would be annoted as a change in info, but niot in identity It is liken to the fingerprinting to identify the human. Cut off the fingers, you still have other means. In this case, I imagine "machine" would take note of the "ding,", and add the info to the data, at the same time identifying the coin as the original. As far as the price, yes, it is rough, but consider this: You have a sizable collection of gold, silver, and very rare and expensive coins. Then the price becomes another item in the insurance protection of said collection. It could always be identified as being one of yours that was stolen, some time in the past. Can you do that with any of your present collectibles? Anyone? Dick Report this Post to the Staff
uouo77 Valued Member United States 125 Posts	Posted 01/14/2010 08:12 am I think it is nothing more then a toy. So what if you can map out the coin, who's going to know. For this to work as a security investment, there would have to be a world wide database. In addition to the fact that all law enforcement agencies, coin dealers and just about any body else dealing in coinage, would have to have a reader to retrieve the data. Think about the man hours that would take. I do know that for this much money, I could do wonders for my coin collection. I can also say, I have been wrong before, as I never thought the slabbed coin would take off as it did, because a coin in a slab is only secure, as long as it is in the slab. Yep, I'm that old. Report this Post to the Staff
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