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The Binion
Collection |
| BINION COLLECTION |
COIN
MARKET CONTRIBUTION |
OLD
WEST HISTORY |
SILVER DOLLARS |
Ordering Information |
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Ted Binion's fabled collection, which includes over 100,000 high quality U.S.
silver dollars, has been sold for over $3,000,000. |
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At first glance, this last statement seems like a contradiction.
Many casinos at the time would take bags of silver dollars received from
the mints and use them as casino chips. However, Ted Binion and other family members
kept these silver dollars in their bags. Many of these bags were
left untouched in a
walk-in freezer underneath Binion's Horseshoe casino or Ted's own
storage vault until they were inspected and sold recently. This
isolation kept these coins in pristine condition.
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It is the quality of this collection that has caught the eyes of coin insiders. Mark Salzberg, President of Numismatic Guaranty Corporation (NGC), has called these coins "the greatest collection of silver dollars that NGC has ever authenticated." NGC is the official grading service of the Binion Collection and is one of the premier grading services in the coin industry. It has graded millions of coins during its 15-year history. Each Binion silver dollar has been inspected and sonically sealed in a tamperproof plastic container with a unique certification seal. |
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NGC has also assigned each coin a pedigree. A pedigree is a special designation given to a small percentage of coins and is marked on the label found above the coin. Such a designation is uncommon. As Salzberg notes, "Less than one out of every 1,000 coins NGC grades has a pedigree. Pedigrees add to the collectibility of a coin because they identify it from a historical perspective." The label displays the coin's year, mint of issue, and grade (a rating of the coin's quality). All of these factors contribute to the market value, but the grade chiefly determines the price.
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Of special note is that for the first time each pedigree label is in a color (green) and depicts three cowboys from the Old West. A unique label was chosen to express the history of these coins and their owners. As Salzberg declared, "These coins are dripping with amazing originality and historical importance." Perhaps best of all, according to Mark Albarian, President and CEO of Goldline, "The coins of the Binion Collection offer an opportunity for both novices and sophisticated collectors to acquire coins for their collections. The price range is 
affordable - many coins are
available for less than $50 with the most expensive over $10,000."He continues, "Ted Binion made the decision to put some of his money into silver dollar coinage. Investors now have the same opportunity to put some of their money in American silver dollars with the hopes of realizing both the joys of collecting and the profit potential that rare coins have to offer." The Binion Collection should be good for the U.S. rare coin market as it is "the largest accumulation of US silver coins" Salzberg has ever witnessed. He also remarked that "collections like these bring interest to the coin market. People that never thought about collecting and investing in coins will make a decision to do so because of the press surrounding the Binion Collection."
Binion
Collection - Binion
History - Coin
Market Contribution © 2008 Goldline International, Inc. |
