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The Chip Board Archive 10

Additional to Don's post...

The subject of silver dollars and casinos was a big deal in the sixties! Although coins aren't anywhere on my radar of things I know about so I can't supply any dates or such I did find this in Dwayne Kling's oral history of Harolds Club. The subject of the interview was Les Kofoed who was a businessman who came to Harolds to run the Pony Express Inn and later was a political lobbyist for Harolds Club. He talks about how the Treasury Dept. and Wash. D.C. considered the silver dollar to be nuisance and were considering ending their circulation. Eva Adams, Director of the U.S. Mint, made those feelings know at a Reno gathering.

Quoting from A Family Affair:

Immediatly we were swamped with requests for silver dollars from collectors all over the country. In our case at Harolds Club, we carried a reserve of about a million dollars in silver dollars. They were used on all of the tables, and the best slot machines in the house were the silver dollar slot machines.

A week or two after Eva had made her talk to the Rotarians, we were losing silver dollars at the rate of about $60,000 a week. There wasn't any way to control it. If customers were standing by a row of dollar slot machines and wanted to buy five rolls of dollars, $20 to the roll, and if there were ten people there, and they all wanted five rolls, there wasn't very much you could do but sell them to them. You had no way of knowing whether they were collectors or players. It turned out that they were not players.

He also adds that about the same time the price of silver went up and hoarders just about cleaned out the whole state.

Gaming was different in those days, slots and craps were the predominate activites and the casinos made very good money from dollar slots. The dice tables took dime bets and silver was what was on the felt. Take away the silver dollars and your beloved dollar slots were usless, a big hurt even to Harolds much less the smaller houses. Not much in the way of dollar chips in those days and special federal permission was needed to mint tokens. Lots of expense for everyone in the gaming industry. I can imagine that places were doing all sorts of things to keep silver on their property so perhaps that is a reason for stickered dollars. Guys like Les Kofoed were able to manuvoer and lobby and lo and behold... the Eisenhower dollar in'71! grin

BTW, you can buy this great book and others by clicking on the UNOHP link provided.

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Additional to Don's post...

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