I wonder if it would be possible to place a chip inside a coin? A chip that could withstand the rigors of being struck multiple times in the coin making process. The minting details could be placed on the chip, thereby allowing the coin to be scanned for a positive identification throughout it's lifetime. Thus eliminating any counterfeiting problems! Maybe they could be pre ordered with the original owners name placed on the chip also.
What? You lost me at "I wonder" LOL!!! This plan would be cool, but would cost too much money, and I don't know if it would be all that necessary.
It would be for collector coins mostly i think. The chips would'nt have the eye appeal of a coin, so i'm sure it would'nt be the coinless chip variety. I would assume the price would'nt be that prohibative, especially if it was widely used (the chip price would be lower). The chips would simply validate the coins.
Why do we need a validation chip for coins though, why spend more tax dollars on things that really aren't that necessary.
It wouldn't be very cost-effective. Casinos do this with gaming chips. The reason they hound you for taking them off premise is because they are expensive to manufacture, based on these security features. It would be cheaper just to deal with counterfiets than it would be to implemint something this extravogant. Guy~
Well, they place readable chips in dogs for like $35.00. So putting a scanning planchet that has an electronic data information capability should'nt be overly costly. I could see it being used in a UHR gold coin. If it could be done for around $10.00, it might become common place in coinage. I was'nt aware that casinos used this process. You might see future coin collectors & dealers outfitted with scanning guns!
Scanning chip If the data on the coin did'nt match the mint's record of chip information, then you don't buy the coin. Like we presently check a certified coins number at the grading company.
Not really. Some time ago the ECB discussed using microchips in future euro notes; the size of such chips would be about 0.5 square millimeters. Could be tough to carry those. I suppose it would be technically possible to build microchips into coins and notes. With notes, however, government could be tempted to make cash traceable using RFID chips. And even the most perfectly law abiding citizen may have legitimate reasons to not want that. As for coins, such chips would currently be too expensive to use in low denomination pieces ... Christian
The first thing i thought of were the RFID chips... but to use such items in coins or currency wouldbe to invite problems... just think about walking through a turnstyle at you local threater, but unknown to you is the worker there installed a RFID reader on the turnstyle... as folks go thorugh, he knows exactly how much moeny he is carrying... see where i am going with this? i might be paronoid... but do we need to hand the bad guys another tool?
I could see the value of RFID in slabbed coins. It would provide another avenue to verify authenticty. Cost is quite small, as we see this technology used throughout the retail world. As far as production coinage goes, that's where I start to ask questions. Such as, how would an RFID reader penetrate the metal in the coin to read the tag? I understand that it is just a matter of RF power, but now the economics of the reader device would skyrocket.
I'm sure if the Mint sold coins with chips in them, people would buy them. The drive in some folks to own everything produced by the Mint seems unstoppable.
The mint could get circulated pennies, put them in a special display case, and call them pennies of yesteryear, and make mucho money... IMO, a lot of the stuff the mint sells is just junk, all the first day covers, and I'm not a fan of mint sets either.
Your all way behind in information. The CIA was contacted a long time ago by women's organizations to implant sending devices inside coins. These are put into thier husband's clothing or wallets and they are watched on scanners as to where they go. If these coins are spent in a bar, wives know instantly where and when and then can find out as to also with whom. Another great thing about this is when a coin is dropped and apparently lost, it can be found with that same scanner. This system turns out to be much better than the radioactive metals previously used in coins for locating in the dark. And one more thing is some of those are also equiped with heat creating substances so if you don't do as your told, you'll get burned. :crying:
That would be nice. I've seen a lot of counterfeit coins lately, including some in real PCGS and NGC holders at the Long Beach Show. But these days, they're even counterfeiting the slabs. Best weapon: Knowledge.
Of course the government would have to put the contract out for bids and development to see who could come up with the best product. And of course we all know the best would be the Fritos coin chips.
NO WAY! I am wanting to ask the same question Conder did.... That is shocking to me! You sure that these slabs were real???
Wrong. China would get that contract and rightfully so. Why would they counterfeit something of thier own? And true, couterfeit PCGS slabs with counterfeit coins are showing up in lots of coin shows. Interesting is there is a growing market for them.
