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Silver Surfer
Penny Pincher Member
USA
148 Posts |
 Posted - 08/09/2009 : 00:01:41
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Does anyone here own any of the silver dollars from the Binion Hoard? If so, do you think they are worth the premium one must pay in order to buy them?
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"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 08/09/2009 01:26:42 |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 08/09/2009 : 00:36:18
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I know I have one or two graded coins from the Binnion collection. Not sure if it is dimes or dollars. And they are stashed away somewhere.
I didn't pay that much of a premium for them, got a good deal on ebay about 2 years ago!
I would never pay a premium for a coin because of its prior ownership, cause even though I'm a swell guy, no one is going to pay that premium to me when I want to sell them.....unless I have some bizarre death or something.... spontaneous combustion, etc. And then they won't be paying the 'previous owner' premium TO ME anyway. |
"May your percentages ever increase!" |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 08/09/2009 : 00:54:10
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quote:
Originally posted by wolvesdad
I know I have one or two graded coins from the Binnion collection. Not sure if it is dimes or dollars. And they are stashed away somewhere.
I didn't pay that much of a premium for them, got a good deal on ebay about 2 years ago!
I would never pay a premium for a coin because of its prior ownership, cause even though I'm a swell guy, no one is going to pay that premium to me when I want to sell them.....unless I have some bizarre death or something.... spontaneous combustion, etc. And then they won't be paying the 'previous owner' premium TO ME anyway.
But, those coins will always be from the famous Binion Collection, no matter how many times they exchange hands, so you may be able to get a premium if you decide to sell them.
Recently saw some Peace dollars and Morgans from the Binion Collection on ebay, just graded Brilliant Uncirculated by NGC and they sold over the NGC MS-60 book value.
Thanks for offering your thoughts. |
Edited by - Silver Surfer on 08/09/2009 01:07:50 |
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 08/09/2009 : 01:18:14
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quote:
Originally posted by highroller4321
Not worth the premium!!
Strictly for investment purposes in silver, you are most correct and I agree. I can understand though, how a collector who may be interested and fascinated with the story of the Binion family and the famous hoard, would be willing to pay the premium to own a part of that collection. I mean, it is associated with a pretty unique and tragic set of circumstances and would make a great conversation piece. |
"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 08/09/2009 01:19:08 |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 08/09/2009 : 01:35:11
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But a beautiful coin that is exceptional would be an equally worthy conversation piece. Especially if you know the story of US silver dollars in general and how so many were stored away, not to see light of day for over 50 years. And only because of this 'overproduction' do we have the variety of mint state coins available today.
SO.... spend the extra money on the extra beautiful/quality coin.... not only will it be a great conversation piece, it will certainly pay out for you in the end. |
"May your percentages ever increase!" |
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 08/09/2009 : 02:41:02
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quote:
Originally posted by wolvesdad
But a beautiful coin that is exceptional would be an equally worthy conversation piece. Especially if you know the story of US silver dollars in general and how so many were stored away, not to see light of day for over 50 years. And only because of this 'overproduction' do we have the variety of mint state coins available today.
SO.... spend the extra money on the extra beautiful/quality coin.... not only will it be a great conversation piece, it will certainly pay out for you in the end.
I cannot disagree with you at all. The actual history of the silver dollar is certainly more important and interesting as far as I'm concerned. And, the focus should always be, first and foremost, placed on it's true history.
But, we know some people have no interest in coins, and will never be collectors or at least haven't yet developed an interest in the hobby. The story associated with the Binion coins will certainly have a more melodramatic appeal to those who would otherwise have no interest in history, more specifically, the history of coins. A coin like this may even get the attention of someone and generate an interest in the hobby from a different historical perspective. The story associated with the Binion hoard contains all kinds of shocking elements, that can capture someone's attention and get them engrossed in all of the dirty details (casinos, strippers, murder, drugs, WSOP, Sin CIty, hidden treasure in the desert...) of the drama.
I don't own any coins from the Binion collection. If I find a good deal like you did, I may pick one up sometime. Personally, I wouldn't pay the high premiums for these coins but, of course, there are some folks who will. Glad you got a good deal on yours.
Thanks for the exchange of opinions. |
"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 08/09/2009 02:52:57 |
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The Binion Collection
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