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Local Business

Know Before You Throw

by Jon Englund June 28, 2018
written by Jon Englund June 28, 2018

Downsizing? Determined to get rid of stuff you no longer need? Cleaning out a home or an estate? Stop! Know Before You Throw.

Recently, I was in Las Vegas for a jewelry trade convention. Now, while I appreciate people’s hope and desire to win a fortune in that town, I also know someone is paying the exorbitant light bill in Vegas—and that someone isn’t the casino. It’s the hapless individual pumping their hard-earned cash into one of those fancy slot machines.

Now, I’m more of an observer of this activity than a participant. First, I’m exhausted at the end of each convention day after countless seminars and walking miles of exhibits. Second, I made my contributions in the past and learned that lesson as a much younger man.

People’s obsession with games of chance is one of the most fascinating things about Las Vegas. Gambling is one of America’s most favored pastimes, and it’s one of mankind’s oldest known pursuits. As such, there is robust interest in the field of gambling collectibles and memorabilia. From old casino chips and dice, to Black Jack tables and slot machines from casinos long since imploded, there is something for every collector.

Vintage slot machines are especially collectible, as many are still functional and can be played (for amusement purposes only), and they are reminders of old Las Vegas, when parking and shrimp cocktails were free, and you just may have seen one of the Rat Pack roaming the casino floor.

The first slot machines originated in the late 1800s with the Liberty Bell three-reel machine, invented by Charles Fey, of San Francisco, considered the first modern-style slot machine. This machine was capable of making an automatic payout when matching combinations of symbols came up on the reels, something the first machines weren’t capable of doing.

Some of the more readily available vintage slot machines are those produced by Bally, Mills Novelty, Jennings, Watling, Rock-Ola and Pace. Fully restored machines from the 1920s through 1940s might fetch a few thousand dollars. In some cases, up to $24,000 for rare machines. Unrestored examples could bring a thousand dollars or so. One of my favorites is the Poinsettia slot machine pictured here. It was produced from 1928 to about 1930 by the Mills Novelty Company.

So, is it your luck that you have some valuable gambling collectibles in your closet?

For more information, call (480) 699-1567. You also can send an email to Jon@KnowBeforeYouThrow.INFO.

 

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