New PCGS NFC Insert Cracks Down on Counterfeits

In October, PCGS began incorporating special NFC technology with every encapsulated coin, medals, tokens, and banknote they graded. Specifically, this new technology arrives as a part of all the Gold Shield and standard holders. However, this new label will not increase the price of PCGS’s service. The PCGS NFC insert is the very first of its kind, which makes PCGS a pioneer for NFC technology in the grading industry. Because counterfeiting is becoming more prevalent, the PCGS NFC insert is just one more step to help crack down on it! At the bottom of this article, you will see our how-to video on the insert. 

Who is PCGS?

PCGS actually stands for Professional Coin Grading Service, and it is one of the top grading services in the US. It began as coin collecting became a more prevalent hobby and investment strategy. Because coin collecting rapidly became popular in the 1900s, the need for a better grading system grew. Before the grading scale, we use today debuted, graders merely assigned coins simple adjectival terms including “Fair”, “Good”, and “Uncirculated.”  So, a small group of US coin experts collaborated in 1985 after realizing that the growing rare coin industry needed a designated grading service. As a result, PCGS opened for business with a vision to unify the universal standard or grading. PCGS implemented the Sheldon scale created by numismatist Dr. William Sheldon in 1948. Although his grading system was already being used, PCGS is important because it offers an official and trusted third-party opinion. Additionally, they unified a US network of reputable dealers that supply reliable protection and appraisal services. Today, PCGS offers appraisals of a coin’s condition that they back with a guarantee, on top of a national network of reputable coin dealers to offer reliable protection. Its use of the Sheldon grading system modernized the rare coin industry. Today, PCGS continues to move forward while keeping coin collectors at the forefront of their focus. And now, they strive to offer even better security with its brand new PCGS NFC insert. 

What is NFC Technology? How did PCGS Start Using NFC Technology?

NFC (Near Field Communication) technology is not a brand new creation, and it may seem familiar to many Bullion Exchanges regulars! Or, you may also have seen it on your credit/debit cards with the chip. Earlier this year, MintID also began implementing NFC technology as part of its MintID silver bullion line. This includes 1 oz rounds and 5 & 10 oz silver bars. But, the PCGS NFC insert is a giant step forward because by using this technology, PCGS is poised to be a trendsetter. Other grading companies may soon follow suit to also offer the best protection like PCGS with numismatic coins, currency, bullion coins, and more. The PCGS NFC insert first surfaced as part of the PCGS Gold Shield holder unveiled earlier this year. This holder had limited availability to serve as a test for technological compatibility and gather responses from customers. Both yielded positive results! In order to feature this new security, PCGS collaborated with HID Global. Consequently, every holder irrespective of the product will contain this new, inert technology inside the PCGS case or holder. 

Source: PCGS

This inert technology will not harm the products inside. To fully enjoy the benefits of this NFC insert, all you must do is download the free PCGS application on your iOS or Android phone! Then, authentication is an easy process through your camera.  Brett Charville, the President of PCGS, stated: 

“PCGS is the industry leader in fighting counterfeiting. 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.” 

He finished by saying, “you collect, we protect.”

How Do the NFC Inserts Work?

The PCGS NFC insert does not require you to make any additional hardware purchases or update your software. Also, the new inserts don't have moving parts or batteries. All their cases continue to be mostly the same to safely house your item. The only new addition is the extra security for your graded item. On top of that, PCGS asserts that without any exposure to the elements or damage, the inserts will last beyond the general lifespan of 100,000+ scans, and over 40 years.  Do not forget, this new technology arrives at no additional cost! That is unless you buy the PCGS Gold Shield security on top of the original graded packaging. This new PCGS NFC label is the new streamlined label used for all graded products. But it is important to know that the QR code traditionally appearing on PCGS’s graded items is going to be removed from labels in the future. However, the barcode will still work through the PCGS Cert Verification app.  https://www.youtube.com/watch?v=kKAL5XeLY8M The PCGS Cert Verification app makes this technology the very top-of-the-line anti-counterfeiting measure on the market. How does it work? The PCGS NFC carries a specialized URL that formulates a cryptographic one-time "passcode" that changes each time the insert is scanned. Then, the HID Trusted tag Cloud Authentication service confirms the passcode. After that, the passcode aligns the insert to the slab that PCGS packaged your item in. Consequently, this integration gives PCGS the ability to confirm the insert is legitimate on top of scanning for potential red flags. At its most simple level, however, all you need to do is use the app, and the technology does the rest! See our how-to video below.

How Do I Know If MY PCGS Holder Has the PCGS NFC Insert?

Established in October, all PCGS holders with NFC Technology shall now display a new NFC symbol on it. So, if you had something graded before October 2020, it will not feature the new NFC insert. The insert's design features a shield with three bands above it on the slab's reverse and/or on the bottom left corner in the holder inside the plastic. This insert is designed to be inert, and will not affect the graded item inside. Keep in mind that specially labeled coins might only display the symbol in the bottom left of the obverse.  https://www.youtube.com/watch?v=YcNQ6qhlI4s The latest PCGS graded new releases Bullion Exchanges proudly carries include the 2020 Palladium Eagles coins such as the SP 69 First Strike, SP 70 First Strike, and SP 70 First Day of Issue coins. From now on, the new PCGS NFC insert will appear on all products, so download the app and start authenticating your certified PCGS products now, for free!

BULLION EXCHANGES

Bullion Exchanges is a top-rated, trusted, and accredited retailer in Manhattan. We are excited to present the new PCGS NFC labels and carry products that PCGS certified. When you place an order with us, we take the time to handle your products with care and safely package them in discreet packaging for safe delivery to your address. Please reach out to our customer service team with any questions or concerns as we are always happy to help. Finally, don’t forget, you can always Sell to Us! We also offer live spot price charts for gold, silver, platinum, and palladium that you can use anytime.

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