APP REVIEW: COINSNAP

The company Next Vision Limited is an AI technology group that developed the mobile app CoinSnap. CoinSnap is described on the app store as a tool that utilizes AI-driven image recognition technology to accurately identify any coin and has a coin grading feature and gives a reference price for each coin. At the time of writing, the app has over one million downloads on the Google Play store and is the #2 reference app on Apple.

How accurate is this tool? We were able to use the app for an afternoon, and here is what we found.

 

To test the app ourselves, we scanned 15 coins: 10 uncertified and five certified. Each coin was photographed in the same set-up, and each coin was scanned three times. This test could benefit from more coins to create a larger sample size, and we already have plans to test this app further. The uncertified group included the following coins: U.S. coins in circulation (a penny, a nickel, a dime, a quarter); a U.S. Presidential $1 coin; a South Korean won; an Australian silver dollar; an Eastern Caribbean 25-cent piece; and a commemorative United States half dollar.

Four of the certified coins were all graded MS and included a Buffalo nickel; a Morgan dollar; a Peace dollar; and a Mercury dime. The final coin was an ancient Roman T. Quinctius Flamininus silver denarius graded XF. In total, we tested three coins certified by PCGS and two graded by NGC.

CoinSnap was able to accurately identify 14 out of the 15 coins provided, coming to 93% accuracy. The coin it was unable to identify was the single ancient coin, graded by NGC. To explore this further, we took ancient coin images from our latest article from Mike Markowitz and submitted them. The app was not able to accurately identify any of these additional coins. The app provided a list of potential matches for these coins, spanning from other ancient coins that were incorrect to a Canadian one-cent piece.

To read the complete article, see:
Can an A.I. Collecting App Correctly Identify and Grade Coins? (https://coinweek.com/coins/coin-collecting-strategies-2/tips-for-new-collectors/can-an-a-i-collecting-app-correctly-identify-and-grade-coins/)

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