April 12, 2024
1885 Silver Dollar Binion Collection Horseshoe Casino
Pricing & History
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1885 Morgan silver dollar from the Binion Collection. NGC graded MS63. Retail $195. 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
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