Recently, PCGS announced that their new Hong Kong company will be grading coins prior to and during the Hong Kong International Coin Convention and Antique Watch Fair beginning on March 24 and continuing through April 6, 2012. If you are interested in submitting coins to PCGS Hong Kong, read the story at coinnews.net.
More interesting are the sample of the holders PCGS published with the press release. PCGS will continue to use slabs similar to those used in the United States without the edge-revealing prongs. The medium sized slab in the image (right) appears similar to those used to encase the 5 ounce America The Beautiful Silver Bullion Coins. What appears to be new is the large-size slab for those large silver coins issued for the new lunar year, for example.To identify coins graded by the PCGS Hong Kong subsidiary, the label used on the slab apparently will have a circular logo colored in red.
This is reported with mixed feelings. While I prefer raw (ungraded) coins, I understand the the necessity to authenticate coins especially from that area of the world. If you do not know about the extent of the problem with Chinese counterfeit coins, this article by Susan Headly includes detailed images of a Chinese counterfeiting operation and should be a scary reminder.
3 comments:
it about time,i hope it works out
Fraud is rampant in the collectors industry. My interest is figurines and I can not tell you how many Hummels are out there without the proper identification marks. It must be a real problem with something like coins.
Nice to see a company involved in the grading of coins. Do they offer some type of guarantee or insurance service? Are they well known enough that their grading gives value to a collection?
Good luck at your show in March.
Lladro
I think its a good idea in theory. But surely if the counterfeit gangs are able to make authentic looking coins. Then counterfeiting a plastic case and a holographic logo would be a piece of cake for them. Ive heard of stories where people have purchased "Numismatic Grade" Morgan dollars in the plastic cases off ebay only to find out they are fakes.
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