I was looking around at some morgans and seen one with the word Binion, so I did a google on word Binion and found out about the history ofthis guy and his hoard... My questions are: What is so special about a coin from a Binion hoard??? Why are they certified as a Binion, but no grade??? I'm more worried about the condition of the coin than who owned it last... How would the "TPG"s certify that this Morgan (or any coin) came from "This Hoard" and that one did not? I went on E-bay and did a search and founds a load, which makes me wonder, Legit or another Scam? http://search.ebay.com/search/search.dll?ht=1&from=R4&satitle=BINION&sacat=11116&catref=C6
Binion I don,t know the whole story, but the coins came from the owner of the famous Binion casino in Vegas. I guess he hoarded a large bunch of these coins, and people must think it's cool to have a coin previously owned by a famous person. I assume most are unc. but really don't remember, it's been a while since I heard the story.
Well I can try to field those... Collector/ historical interest. A lot of people will pay a premium for a coin with a special history behind it, much the way they'll pay a premium for coins recovered from shipwrecks and such. See answer above... many more coins can be MS 60 than can be from the Binion hoard. Though you can see some coins certfied as Binion as well as graded. Well they'd need some sort of proof of provenance that tracks it back to the hoard it came from. Usually some form of certification that directly traces it back to the original owner or at least the first person to purchase it from the hoard. And looks legit... can't tell just from the eBay listing, but I'd make sure it comes with some form of certificate of authenticity that has the name and address of who made the certificate, plus make sure they have a 100% return policy. If they're willing to stand behind their claim it's a lot more likely to be legitimate than someone with an "all sales final, take it or leave it" policy.
I wonder how many coins or oz of Silver you have to stash before its considered a ""Hoard"??? Whats the prerequisite???? I want in on this... Way off in the future, I want people to read about the legendary ""Smullen Hoard"... I think I'll srart making tags now... Mine'll be worth about 275.00 (you read it right, 275) if you count what all the holders, 2x2s and Flips are worth....
It is an advertising gimmick. I got a Binion 4-coin silver type set at a coin shop for $20 and sold it on Ebay for $100. Charlie
Here is one version! Who was Ted Binion? Ted Binion was the son of Lester "Benny" Binion, founder of the Binion's Horseshoe casino in Las Vegas. A collector and believer in the importance of owning silver assets, Binion acquired most of his coins at face value in the 1950s and early 1960s. In 1951, Benny opened Binion's Horseshoe casino. Thanks to the combination of Benny's marketing skills and the growing number of tourist visiting Las Vegas, the Horseshoe flourished. Ted Binion, whose real first name was Lonnie, grew up in the hotel and casino business in the 1950s and 1960s. That meant he was constantly surrounded by cash. Cash was used on the poker tables, craps tables and blackjack tables. Cash was used in all of the casino's games and in all of its slot machines. The cash could be paper money or it could be silver coins, both of which were plentiful. When Ted worked in the cashier's room at the casino, he received and paid out silver coins that ranged from tiny Mercury and Roosevelt dimes to large Morgan and Peace dollars. Like so many Americans of that era, he often came across scarcer-date coins worth more than their face value and added them to his collection. This experience helped him learn the importance of a circulated coin's grade or an uncirculated coin's state of preservation. Like every casino in the state, Binion's Horseshoe hotel and casino ordered and received a constant flow of silver dollars from its bank. Ted was in an advantageous position to inspect the 1,000-coin bags as they arrived. When a superior-quality bag was delivered he purchased it for himself. Ted Binion filled his secret underground vault in the Nevada desert with a spectacular accumulation of silver bars and silver dollar bags. As a wealthy man's son and part owner of a successful Las Vegas casino, he could afford to add bags of silver dollars to his holdings. After all, they could always be brought back to the casino if they were needed. Ted Binion met 23-year old Sandy Murphy in 1995 at the age of 52 and was smitten with her beauty. Shortly thereafter, she moved into his 8,000-square-foot home and he rewrote his will, stipulating that upon his death she would receive the house, its contents, $300,000 in cash and a $90,000 Mercedes. In 1998, Binion paid Rick Tabish $40,000 to construct a concrete and steel vault in the desert and entrusted him with the door's combination. Secretly, Murphy and Tabish became lovers. Later that year, Ted Binion died in his home under mysterious circumstances. Two years later, after a sensational trial intimately covered by major newspapers, national magazines and "Court TV," a Nevada jury convicted Murphy and Tabish of murdering the millionaire casino boss. Two factors account for the generally high quality of the Binion silver dollars. First, based on his personal experience, Ted Binion selected only high-quality coins for himself. The lower-quality coins were used in the casino.
I have a few of these Binion coins. I am a frequent visitor to the Horseshoe in LV so its kinda cool to have a piece of its history. Usually I leave there with no coins in my pocket at all! I have a few Morgans with no grading. It only says Brilliant Uncirculated on the label. Based on how my coins look, I'd say they are MS60. Lots of bag marks. This is probably why they were given the BU grade instead of the standard MSxx grade. They are all graded by NGC, by the way, so its legit.
I bought a small bag of Binion coins with documentation and certified authentic, either from either QVC or HSN years ago. The bag is secured - so it can't be opened but I managed to get the big lead closure away from the draw strings. They're old silver coins - no ring of copper inside like new quarters etc... I'm wondering if these are worth anything.
