When I became a professional numismatist there were no grading services and authentication services were not yet popular. Most everyone who wanted to become a coin dealer understood how important it was to be able to tell good from bad. Counterfeit and altered coins were a real problem.

Where I worked, the policy was to always share opportunities to gain knowledge and experience. If one of us encountered a questionable coin it was our responsibility to show the suspect item to every member of the numismatic staff. There were many times when the four of us would gather and pass a coin around. It was critically important for each staff member to recognize why a coin should be condemned as fake. It was even more important to learn why a coin that seemed questionable was in fact genuine. Back then, the all too common approach was to label as fake any coin that might be suspect. There were few true authorities that could or would clearly explain why one coin was counterfeit and another genuine. Unlike grading, there is no subjectivity involved with coin authentication. The piece is either genuine or not. Opinions are only important when they result in a conclusive judgment.

Thanks to competent grading services offering authentication as part of the basic service, acquiring counterfeit coins has become much less of a concern for the majority of collectors and dealers. From the perspective of consumer confidence this is a significant benefit. At the same time, I'm wondering if many numismatists aren't missing an important and interesting aspect of our hobby. I'm quite certain the number of skilled authenticators active in the marketplace has declined since the grading services have welcomed this responsibility.

There may be exceptions, but my experience has been that grading services have not done an adequate job in sharing their expertise. I can understand the commercial benefits of keeping this information confidential. There is also the real concern that widespread publication of newly discovered fakes will alert those who are producing them. Instead of putting the fakers out of business such information will alert them to revise their products.

Because my initial learning experience with coin authentication was so positive, I'd like to see more in the way of group discussions and sharing of fact and opinion. The same can be said for concerns about cleaning, alteration of genuine coins and artificial toning. To again reference my early training, the best approach was to make a statement supported by evidence. “I think this coin is counterfeit because…” If someone disagrees with this finding they should be prepared to offer reasons to support their conclusion. With coin grading it seems the majority opinion rules. Those who produce counterfeit coins are betting the majority is deceived when viewing their work.

Be they employed by a grading service or using their talents independently, it is those select few expert authenticators that have preserved our hobby. I can say this with conviction because there are numerous collectable hobbies that have been ruined or greatly damaged due to the proliferation of counterfeits and reproductions. In North America, if the American Numismatic Association had not decided to establish an affordable authentication service and employed skilled people to do this work I'm certain counterfeit coins would be more prevalent today. In the early 1970's, certain coins were so often counterfeited or altered it was prudent to assume most of these you examined were fakes. No hobby can prosper or grow under such circumstances.

As we in the coin hobby know, coin grading is subjective and standards can change. As mentioned previously, this is not the case with authenticity. The attributes that made a coin genuine or fake a hundred years ago are still in place today. I would encourage every collector to investigate this important and fascinating aspect of our hobby rather than assume matters of authenticity have become the responsibility of grading services.

Without question, the most important experts within our hobby are the competent authenticators. If you have an interest in becoming an expert in some numismatic field while making an important contribution to our hobby please investigate the challenges presented by authentication.