What does COA stand for, and what do they do?
What is is - "Certificate of Authenticity."
What do they do - They prey on people to let them think they are buying points that are real.
When an artifact has no providence a COA from a reputable source increases the value... It is like a signature of a famous person, good luck selling it without a COA.....
The tide is turning on COAs now, due to all the bad apples out there.
I know some guys who spend
BIG bucks on high-end points, and they have told me "
I won't even look at a point if it has a COA." "If it were real - it wouldn't need a piece of paper trying to convince me it was."
There are some clever con artists who are churning out fake COAs with Perinos name and a couple other well-known authenticators names on them. Fake points - and fake COAs. What a mess.
I saw an old man's collection that he spent quite a bit on. He showed me his points and the COAs he had on them. And
every single point was fake. I didn't have the heart to tell him, but the real shock will be to his family when he passes on, as he bought them as an investment and he thinks his family will be "set" when they go to sell them later.
Buy from trusted sources or from people who dig or collect themselves and who you can trust.
Otherwise - buying a point that is "papered" with a COA makes the point itself irrelevant. As long as the paper says it's "real," then it could be carved from concrete or plaster and someone would buy it "because it has a COA on it." It's just some guy's opinion
telling you it's real, and that guy needs ZERO credentials at all to be able to do that.
