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Ted Binions Silver Dollars Sold
Posted by Dena Tahmoosh-Skeffington at 1/15/2002
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(Santa Monica, CA) Ted Binion's fabled collection including over 100,000 high quality U.S. silver dollars has been sold for over three million dollars. Goldline International, Inc. (Goldline.com) of Santa Monica, California has been appointed its exclusive worldwide marketing agent by the purchaser with some coins to be sold in auction.
Ted Binion, the controversial former casino owner who met an untimely and mysterious death, made his larger-than-life reputation as a businessman in Nevada. Building on his father's start, he helped develop Binion's Horseshoe Casino in Las Vegas into an internationally recognized brand. His coins were kept in a secret underground vault in the Nevada desert.
The Binion coins were authenticated and certified by
the Numismatic Guarantee Corporation (NGC), one of the
nation's leading independent facilities for the inspection,
authentication and grading of collector and investor
coins. At the completion of their process, NGC sealed
each silver dollar into a tamperproof plastic holder
showing the coin's year and mint of issue, plus the
coin's grade. A coin's grade is important because it
is the primary determinant of the coin's market value.
Mark Salzberg, President of NGC, said, "This
is the greatest collection of silver dollars that NGC
has ever authenticated."
 NGC
has also included a unique certification sealed into
each protective holder for the historic coins. Each
Binion silver dollar features a special NGC pedigree
label that for the first time is in a color (green)
and depicts three cowboys from the Old West. Each label
also reads, Binion Collection and BinionCollection.com
to further identify the pedigree and to offer collectors
a website with additional information about the collection.
"These coins are dripping with amazing originality
and historical importance," said Salzberg. He added,
"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 coins of the Binion Collection offer an opportunity
for both novices and sophisticated collectors to acquire
coins for their collections," said Mark Albarian,
President and CEO of Goldline. "The price range
is affordable-many coins are available for less than
$50 with the most expensive over $10,000."
The Binion Collection should be good for the U.S.
rare coin market. Salzberg also remarked, "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."
For more information about the Binion Collection,
www.BinionCollection.com,
call Goldline at 1-800-827-4653.
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