PCGS to help create lost coin registry

[midwest]

link to article

 

Here's the article if you don't want to click on the link.

 

NEWPORT BEACH, CA - Collectors Universe, Inc. (NASDAQ: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles and diamonds, today announced that it has executed an agreement to provide the first registration services to coin and diamond owners on Art Loss Register (www.artloss.com) as an added benefit to certification through its operating divisions Professional Coin Grading Service (PCGS) and Gem Certification & Assurance Lab (GCAL).

 

"We receive notices of stolen coins from dealers and collectors, but until now we haven't had an effective way to disseminate the information. This will be an excellent service to the numismatic community," said David Hall, President of Collectors Universe and co-founder of PCGS.

 

The Art Loss Register is the largest art and antiques recovery business and a central clearinghouse for acquirers of art to determine good title. The Art Loss Register places over 10,000 losses from insurers, owners and law enforcement agencies each year on its database of over 170,000 uniquely identifiable stolen and missing items. This database is searched by art historians for auctioneers and dealers against over 300,000 items offered for sale each year. Auction houses such as Sotheby's and Christie's check consigned goods against the database, while law enforcement in several countries use the database to identify owners of recovered property. Insurance companies also register stolen and lost art, antiques, and other valuables in the expectation of recovery.

 

This agreement is the Art Loss Register's first with issuers of certification for coins (PCGS) and diamonds (GCAL). Buyers of PCGS and GCAL certified items will have the ability to register stolen or lost items free of charge on The Art Loss Register database. A fee is payable if the item is recovered using the database, paid by the insurance company or if uninsured, by the owner.

 

Julian Radcliffe, Chairman of The Art Loss Register, stated "This agreement allows us to expand our database into two areas that need more assistance in recovery: coins and diamonds. With the certification services of PCGS and the GCAL with Gemprint identification system, we believe we can contribute significantly to increased recovery of stolen and lost coins and diamonds."

 

Chief Executive Officer of Collectors Universe, Michael Haynes commented, "The Art Loss Register is an excellent resource for recovery of stolen property and probably the premiere assistant for law enforcement worldwide. We believe that this free service attached to our PCGS and GCAL brands will add a measure of brand preference in the marketplace that enhances the value of these brands to the consumer."

[gmarguli]

The problem with this is that anyone stealing a coin that has any clue will remove it from its slab. This registry sounds good for stuff like paintings, but for coins I doubt it will have much, if any, affect on the recovery.

[Morgannut]

True anyone with a brain will crack the coin. But I'm sure it has occured to both PCGS and NGC to link the coin's grade etc to their photo services. Still it can be dipped, but that requires a next level of intelligence not all thuggs may have. Even dipped, coins often have several points of identification from abrasions, lines, etc that would at least give the insurance carrier/owners a shot at recovery if found under suspicious circumstance.

[ldhair]

It's a great idea but I agree with Greg. I can't see enough coins ever being found to make it worth while. I can't see most dealers or collectors taking the time to look up a coin. Maybe they would on something that was super rare.

It will be interesting to look at the coins that get listed.

Wouldn't it be a nightmare to see a coin listed that you hold?

[gmarguli]

Looks like NGC is doing the same thing with the same Art Loss Register. Article

 

I found the last paragraph the most interesting (and potentially scary).

[Jazzy]

Vee have vays to make you talk.