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The Binion
Collection |
| BINION COLLECTION |
COIN
MARKET CONTRIBUTION |
OLD WEST HISTORY |
SILVER DOLLARS |
Ordering Information |
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CARSON CITY -- More than 100,000 silver dollars owned by the late Horseshoe executive Ted Binion have been sold for $3 million and will be offered for sale to collectors. Goldline International Inc., of Santa Monica, Calif., announced Tuesday that it has been appointed marketing agent for the Binion collection of Morgan and Peace silver dollars. The coins carry dates between 1878 and 1935. Spectrum, a coin wholesale company in Orange County, Calif., purchased the collection and plans to offer it to the public. About 50,000 of the dollars never have been in circulation. "The coins of the Binion collection offer an opportunity for both novice and sophisticated collectors to buy coins for their collections," said Mark Albarian, president and chief executive officer of Goldline. "The price range is affordable. Coins are available for less than $50 with the most expensive over $10,000." Binion was found dead in his Las Vegas home in September 1998. His live-in girlfriend Sandy Murphy was sentenced to a minimum of 22 years in prison in connection with his death. Her co-defendant Rick Tabish received a 25-year minimum sentence. Tabish was arrested two days after Binion's death as he tried to dig up Binion's silver, which had been buried in a desert vault near Pahrump. Goldline said many of the Binion dollars originally had been kept in bags and left untouched for years in a walk-in freezer at the Horseshoe. Dollars were regularly used in casino play before 1964 when the government reduced the silver content in silver dollars. The Binion coins were authenticated by the Numismatic Guaranty Corporation, one of the nation's leading facilities for the inspection, authentication and grading of coins. The firm sealed each silver dollar in a tamper-proof plastic holder showing the coin's year and mint of issue, plus the coin's grade. Albarian said a common circulated coin from the collection can be purchased for as little as $39. What makes the collection special, however, is many of the coins are in near mint condition. "We have bags of 1885, 1886 and 1887 coins that are brand new," he said. "We sold one coin today (an 1878 San Francisco mint dollar) for $7,900." Albarian said Binion was thought to have collected Carson City silver dollars, although none yet have been discovered. Numismatic Guaranty has not completed grading many of the dollars.
Binion
Collection - Binion
History - Coin
Market Contribution © 2010 Goldline International, Inc. |
