Good Day Ladies and Gents,
I was surfing the web to look for the coolest new coins being released
(As per usual) and came across this interesting article on the use of holograms on legal tender coins, bullion coins, and the best part they even mention crypto collectibles. At the very beginning of the article actually they mention our niche collectible coin category saying: "The application of holograms on commemorative coins started in the early 1990s. They are mainly added for eye-catching decoration and to generate interest amongst numismatists,
although in a separate application, cryptocurrencies are now using holograms as labels to protect security codes.
Today, the global coin collector market is estimated to be worth around $17 billion in annual revenues, according to Mhojhos Research, and numbers a community of 615 billion people around the world."
A nice nod to crypto collectibles, albeit I wish they would have displayed some more examples. They mention The 2022 Liberty United Crypto States 1,000 Satoshi silver hologram coin issued by the United Crypto States (UCS) (which I think is a shame they made it such a small denomination, has anyone purchased one of these?) They also mention the Bitcoin Sussie paper notes. They make a strong case for the use of holograms as a security element with coins and notate all the mints that have made notable uses of holograms on coinage. I'm not sure if anyone has shared this yet, but it was posted only 4 days ago so I may be the first to post on it, perhaps.
Anyhow, here is another excerpt from the article (also showing some interesting figures on fake bullion coins):
"Cryptocurrencies and Holograms
A 2022 silver “coin” issued by the United Crypto States denominated 1,000 Satoshi bears a hologram to protect against counterfeiting. (Image courtesy United Crypto States.)
A 2022 silver “coin” issued by the United Crypto States denominated 1,000 Satoshi bears a hologram to protect against counterfeiting. (Image courtesy United Crypto States.)
As noted above, in addition to commemorative coins for the collectors’ market, holograms are also finding new uses to secure cryptocurrencies.
Not only do cryptocurrencies exist, but also crypto states. The 2022 Liberty United Crypto States 1,000 Satoshi silver hologram coin issued by the United Crypto States (UCS) is the first one from the UCS series. Combining the history of silver and cutting-edge hologram technology, Liberty is presented in the form of a classic coin. As a so-called “legal tender” of the United Crypto States – a virtual state based on a community of collectors – it is denominated in Bitcoin, the current king of the cryptocurrency universe. There is a hologram, created to protect against counterfeiting, together with a QR code with a 1,000 Satoshi denomination.
As this shows, even if cryptocurrency is digital, the physical counterparts exist – both in metal and paper form, and the move from digital to paper-based crypto currencies is creating further opportunities for holography.
In the case of physical Bitcoin “coins,” these have their own Bitcoin address and a redeemable “private key” printed on a card that is embedded inside the coin and covered up or protected by tamper-proof hologram applied to the surface.
And then there are paper-based cryptocurrencies, also known as hybrid bank notes, which resemble traditional bank notes but with the facility to have funds loaded onto them that can then be used to pay for goods or services at outlets that accept them. Or simply to store value.
In this world, holographic technology is helping to provide authentication in the form of the Icynote brand from SMD Security Printing Sarl. This wallet, which works with any business or trade that accepts cryptocurrencies as a form of payment, allows the “bank note” to receive funds directly from its customers. The buyer only has to scan the QR code and send the this to the seller to complete the transaction.
The Bitcoin Suisse Crypto “bank note” is another development that sees a paper wallet that holds a public address key accessed by a QR code and a private key that is concealed by multiple security features. It has the look and feel of a traditional bank note and includes a unique “Nanocrypt” hologram alongside other security features, which incorporates the company name and logo, nano-optical structures, microtext, a decorative effect known as guilloche and spectral line patterns among other strong visual effects.
Looking to the Future
What about future developments? We can see that there are reasons why holograms should migrate onto coins in circulation, but the main one has to be security. Just as holograms, or more correctly, “optically variable security devices” have found widespread acclaim as bank note security features, helping to protect against counterfeiting, they could offer the same function on coins.
This comes at a time of growing incidences of counterfeit coin seizures. According to the European Commission, the volume of counterfeit euro coins increased by 6.35 percent in 2019 (the last year figures were published). The greatest increase was in counterfeit 2-euro coins (15 percent), which comprised 93 percent of the total (the EC only analyzes and reports on 1- and 2-euro and 50-euro cent coins). For commemorative euro coins (which are always 2-euro coins), the increase in counterfeit detected in 2019 was 20 percent. This summer, the Irish Garda issued a warning over fake 2-euro coins following the seizure of counterfeit currency in Dublin.
Law enforcement authorities in the U.S. seized more than 40,000 fake Morgan and Peace dollars, American Eagle silver bullion coins and $2.50 Indian Head gold coins in 2021 while the introduction of a new 1-pound coin in the U.K. in 2017 was down to the fact that, by then, almost 3 percent of the old 1-pound coins in circulation were fake. The financial incentive to find an effective deterrent is potent – and should mints be able to develop the technology to produce effective circulating coins displaying holographic effects that withstand the rigors of use, then the opportunities for a new line of use for holography are considerable.
Dr. Paul Dunn is chair of the International Hologram Manufacturers Association (IHMA). He is an industry expert with more than 30 years of experience and has developed innovative security features to authenticate and protect brand merchandise and high-security documents.
The IHMA is an international trade body comprised of more than 90 of the world’s leading producers and converters of holograms for bank note security, anti-counterfeiting, brand protection, packaging, graphics and other commercial applications."
If you're interested to read the whole article you can find it here:
https://www.numismaticnews.net/world-coins/holograms-on-coins-and-beyondThanks for reading!
Cheers,
TREAD
