Coin and Card Auctions, a Little Pre-IPO Startup Company With Big Solutions, Develops First-of-Its-Kind Proof of Concept
It is no secret that numismatic and sports cards collectibles third-party grading has not kept up with the latest in technologies, so a potentially market-disruptive artificial intelligence and deep neural networks Proof of Concept (POC) should not be a surprise, but it is to some. Automated grading is possible and with it comes market stabilization, counterfeit detection, digital fingerprints, and emerging marketplaces.
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DES MOINES, Iowa, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Coin and Card Auctions is pleased to announce a significant milestone with its successful development of deep neural networks and artificial intelligence (AI) Proof of Concept (POC) for numismatic grading.
The company believes its system paves the way for automated grading with unprecedented accuracy and speed. The Grading and authenticating of a numismatic coin, art or sports card in today's market can take months. Its technologies are specifically for automating grading using deep neural networks and artificial intelligence to supply the industry with consistent highly accurate measurable and documented results based on science, math, algorithms, deep neural networks, and artificial intelligence and expediting grading timeframes from months to days.
The company recognizes that a POC is just the first step to developing software and hardware solutions for grading automation purposes although there are multiple other industry uses, including counterfeit detections and digital fingerprints. A coin the size of a Morgan Dollar or a silver Eagle can easily have 200 million datapoints, making it impossible to not be able to identify, and the same holds true with any numismatic identification.
The future of the numismatic industry had appeared to be waning as active participants average 62 years of age. Sports Cards collectibles are different and have younger ages to baby boomers actively engaged in a growing sports cards market, and art collectors age groups are still stable.
But its technologies and emerging marketplaces are supplying unique industry growth and opportunities for all ages. Imagine taking numismatic collectibles, art or sports cards and combining them with digital fingerprints registered as intellectual property on the blockchain with smart contracts that pay consumers shared perpetual royalties that automatically trigger on resales. Now there are physical assets, IP and consumer-shared royalties as a function of marketplace cost with the vesting of consumers themselves into the marketplace. A secondary royalties' aggregation marketplace is possible in the future.
The company technologies are developed to stabilize third-party grading and pave the way for automated grading and development of Smartphone iOS and Android "point-and-click" applications providing consumers and businesses with instant numismatic identification and grading and "go-to-market solutions" that bridge conventional and emerging marketplaces worldwide.
Coin and Card Auctions converted a patent pending into an international patent filing in August 2022 and plans to convert another patent pending as a follow-on international patent filing during the first quarter of 2023.
"We are excited to take on these software, hardware and automation challenges, and I am so proud of the amazing talent, challenging work, dedication, and innovative solutions of all those who have helped to get us to this point and look forward to continued milestone successes in the future," said the CEO and founder, Mike Johnson.
About Coin and Card Auctions
Coin and Card is a rapidly growing startup company that supplies technical solutions to grow and enhance the sports cards, art and numismatics industries.
The company's world-class personnel include Fortune 100 experienced industry experts and numismatics experts.
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