By: Jeff Starck, Coin World
A new world coin reviewing service is finally taking flight, four years after it began operating.
World Identification and Numismatic Grading Service was begun in 2008 by Lance Tchor of Worldwide Numismatics Inc., but the firm has functioned in near anonymity, and at less that full speed, until a recent targeted national entry into the modern world coin market, according to Tchor.
The firm accepts graded and encapsulated coins for review, with those that meet the firm’s “standard of excellence” earning a gold WINGS sticker.
Tchor said he has reviews several thousand coins, mostly those his company sold and others owned by a few individual dealers, not charging for the service.
The coins are reviewed by as many as three people, and a minimum of two people, said Tchor, who is one of the finalizers, nothing that he will rely on experts across multiple world coin categories.
Coins must have been graded and encapsulated by Professional Coin Grading Service, Numismatic Guaranty Corp., Independent Coin Graders or ANACS. For the first several weeks, maybe as long as two months, Tchor said he would allow any collector or dealer to submit 20 coins for free review to see if any coin meets the firms qualifications to receive a gold WINGS sticker. The price after that has not yet been disclosed.
“This [review and stickering service] will be for coins that are high-end for the grade, the best in grade category,” Tchor said.
Most of the business will be done at shows for now, he said.
Tchor acknowledges that the firm will not be competing with Certified Acceptance Corp., the company that opened the market to coin slabs bearing stickers after the third-party-grading process is completed.
“CAC does not do this for world coins,” he said. Conversely, WINGS will not review U.S. coins for the application of a sticker.
Unlike CAC, Worldwide Numismatics Inc. will not be a market-maker for WINGS-reviewed coins.
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