I'm new here, Is there a verified owner registry for certified items?
KevinNCSU
Posts: 4 ✭
I was an avid coin collector 20+ years ago or so and only recently got back into it when my son stated showing interest, so I'm kinda new to all the certification stuff. That said before I started investing to heavily in coins again I started to do my research and was disheartened to find the crazy amount of fakes and even fake certifications out there. I've downloaded all the PCGS apps (that i could find) and bought a few PCGS certified coins I felt good about, but I just can't seem to pull the trigger on any bigger money items for fear of them being fake.
So I was wondering if a verified owner registry existed that is maintained by Collectors Universe or a third party vendor, where owners of the certified coins could mark the current status of their coins. I saw the set registry but that was not quite what i was looking for, when I say status I mean like currently not for sale or for sale (with comments about where/how to purchase) or the coin could even be marked as stolen if that were the case. This would make it easier for potential buyers to verify legit certified coins for sale, as well as protect the real owners from some crook that steals their cert # or the coin itself, also would be good thing for the certification companies protecting and strengthening their brand by adding a double authentication. When a coin sells the verified owner could pass the verification on to the buyer assuming they are already in the system.
If this exists where can I find it? If it does not do you think it is something that can or will be developed in the future?
Comments
The best option is to use the cert verification tool which can be found at the bottom of the home page under customer service. It's not a perfect tool as mistakes are made and not every coin is registered in the registry or in a collectors inventory thus some cert #'s may not show as owned but it's the best tool available. Both PCGS and NGC offer this tool for free.
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Welcome aboard. Your idea is a good one, but logistically nearly impossible to keep updated. Just imagine the number of transactions at one of the large national shows over the course of a single day. Even if the process to update ownership took less than a minute, dealers just don't have the time/patience/resources to keep everything up to date.
My best advice off the top of my head after hanging out around here for 8 years is:
Your caution is warranted, though you shouldn't allow it to inhibit your enjoyment of the hobby. As a former PCGS executive used to say, "Have fun with your coins."
The owner registry you are asking about does not exist. If it did, it would help you out in the way you suggest but it also would help thieves everywhere know what you have to steal.
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Welcome from a fellow North Carolinian (Pinehurst). Not sure if you are still in the state.
The advice that has already been given is on the mark. I can't add much to it other than these boards are a great way to get up to speed,
The owner registry you desire is an interesting concept at one level, but nearly impossible to keep updated. It would require cooperation that isn't out there.
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welcome to the forum ...
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You are very wise to be concerned about PCGS coin/holder counterfeits. I've seen some examples at the PCGS booth at major shows that are incredibly good. It's a scary world out there. IMO, PCGS should photograph every coin graded, and should makes this image available on the Cert Verification page. Doesn't solve everything, but it would sure help.
Good luck, and welcome back to this great hobby --- very cool activity to share with your son!
Dave
Welcome, buy certified from reputable dealers. If in doubt you can ask here. Stick around and learn. Good group here. It is a very good resource. Many collectors want their collections to remain private so an owner registry is unlikely.
If you are buying slabs, you first line of defense against counterfeits is purchasing certified coins from a reputable coin dealer. You can add more security by doing the following:
1) Check the cert number at PCGS. If the coin has been sold at major auction, you can check the auction photos.
2) Buy coins with True View photos and match up the True View with the coin for sale. NGC has photos of most coins, but photo quality is often poor.
3) Run a scan on the coin's barcode and match to cert number.
4) Buy coins with a CAC sticker as another place to check cert number.
If you bough an expensive coin with True View and CAC from a reputable dealer, it would be highly unlikely to be counterfiet.
Thanks everyone I just wanted to make sure I was using every tool available, and I understand there are definitely logistic hurdles with an owner registry but figured I'd ask to see if it existed, maybe one day as technology keeps advancing it will be more feasible.
Welcome to the forum. You'll find a great deal of information and knowledge here. Good luck on your future purchases !!!
Welcome to CU ...... I am looking forward to learn along with your post
@KevinNCSU.... Welcome aboard.... There is excellent advice offered above.... no need to repeat it again....Checking the cert number is a good step when buying slabbed coins...Cheers, RickO