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BINION CONTRIBUTIONS
TO THE COIN MARKET
The Binion family strongly believed in tangible assets like silver coins.
For years before Ted
Binion was born, Benny Binion and his wife Teddy Jane collected silver items such as US silver dollars, other
US coins, and bullion
bars.
Fifty years ago in Las
Vegas, casinos like Binion's Horseshoe frequently handled US silver coins
for use in gaming. Casinos had access to some of the
finest quality US silver dollars available at the time and coins like these
coins ended up in their hoard. With their success (and perhaps their lack of faith in holding paper
dollars) came more and more silver dollars.
According to journalist Jeff German in his book, "Murder in Sin
City", Ted Binion inherited the majority of his coins after the death of his
mother in 1994. Some people believe that Ted used his own paper money to
purchase additional silver dollars, for when
he had a choice of saving
a US paper dollar or a US silver dollar, he chose the silver
dollar.
Ted was also a noted collector in his own right. This aided to the preservation of the coins and bars of the Binion
Collection. In fact, the majority of the silver dollars in his
collection, especially the higher quality coins, has sat relatively
undisturbed for many years. Some coins have been in the
collection for over 40 years.
 Ted had a
special underground vault built in
Pahrump, Nevada for storage and protection of his silver. The dimensions of
this $40,000 vault can give you an idea of
the size of this hoard. It measured ten feet by twelve feet by
ten feet and was built of concrete and steel. The
manhole-sized entrance at the top was also surrounded by barbed wire for
added security. Interestingly,
the man Ted Binion hired to build the vault was later convicted of murdering Ted Binion in
May of 2000.
Many people believe that Ted also had
collections of other valuable items in his possession such as Carson City silver dollars,
$20 Saint-Gaudens gold
coins, and precious
gems. If he did own these items, they have yet to be found or
recovered, adding to the mystique of this collection.
Binion
Collection - Binion
History - Coin
Market Contribution
Old West History
- Silver
Dollars - Press
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