Automated Rare Coin Grader

Overview: This project will undertake the development of a system that will be used to grade, appraise and authenticate valuable collectibles items such as rare coins using advanced scanning, weight measurement and data mining technology. The initial plan is to design the system for processing rare coins and then to expand the usage scope to other valuable collectibles such as postage stamps, cards and possibly antiques.

Innovative Features: A user will be able place a coin on a special scanner/scale at which time a high-resolution scan of the coin will be made and the weight in grams will be recorded. After the scan is completed the system will then:

Rationale / Justification: Rare coins are presently graded by human hand and eye inspection that often produces varied, inconsistent and sometimes dubious results. For instance one grader may assign a grade of Very Good to a particular rare coin and another grader may assign a grade of Fine to the same coin. On many rare coins a difference of a single grade can often mean thousands of dollars in difference in the value of the asset. Some times these discrepancies in grades are simply errors by the graders due to poor training, poor lighting, fatigue or misinformation. But many times the discrepancies can be attributed to dealers under-grading items so that they can purchase them for an amount that is cheaper than what they are worth or over-grading them so that they can sell the items for more than they are worth.

With our proposed system grading will always be consistent since no human error factors or financial incentive can be introduced into the grading process. Our system will simply read the asset by scanning and weighing to produce an automated comprehensive assessment, which includes authentication and valuation.

Market Potential: The market need for fair, consistent, accurate and unbiased grading / appraisals of rare collectibles encompasses each major category of collectibles. Initially our system will be developed for the rare coin segment of collecting as abuses in grading / appraisals are widespread and revenue opportunity is large.

The Computerized/Automated Grader will have application in two potential revenue generating market capacities: As a commercial product and as a commercial service.

Development Strategies: We will build a brand that becomes widely recognized by the experts and will set a new standard for how rare collectibles are graded and appraised by eliminating the human element. We will devote considerable resources into promoting the value of our system and why our system is the only one that sense. We will attempt to secure patents on our products and services as soon as the prototype is developed.

Consumer Appeal: Accurate grading of rare coins and collectibles 100% of the time, consistent grades / appraisals every time no matter how many times a user resubmits a coin for regrading.

Competition: