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Binion's million dollar display is back Binion's million dollar display is back

08-29-2008 , 09:06 AM
I can remember back years ago you used to fairly regularly see a $500 or $1000 bill. Especially at the race tracks, if you won a substantial amount. I haven't seen either of those bills in a long time, even though they are still legal tender.

They were actually used on occasion back in the 1960's on Let's Make A Deal too.
Binion's million dollar display is back Quote
08-29-2008 , 09:15 AM
I don't know when $500 and $1000 bills went out of circulation. My mentor, Sand as I'll call him, would carry $20,000 in one pocket and a pistol in the other. A craps bank roll might flash $500 or $1000 bills. With big bills, $20,000 didn't make such a big pocket bankroll, in weight. Poker was mostly played with cash. You could slip a $500 bill into your stack without others knowing until a big pot came up.

I won a $900 check once and hit the bank at 9 a.m. They gave me a $500 bill and four mallards. I was twenty-one and almost ran out of there.

We were in Longview once, and Sand handed a $1000 bill to this young kid in a crap game in a barn and asked for change. There must have been 50 people there and a few dice games. Sand was definately "big enough to carry money."

Large bills were called "coarse notes."

Sand was a life-long friend of Benny Binion, Johnny Moss, and Titanic Thompson. He never went to the WSOP, because Benny told him the I.R.S. and the F.B.I. were "on the rail."

Johnny Hughes

Last edited by Johnny Hughes; 08-29-2008 at 09:20 AM. Reason: Honor Texas, as usual.
Binion's million dollar display is back Quote
08-29-2008 , 09:54 AM
If you take the tour at Bureau of Engraving and Printing in DC (1 of 2 places they print paper money in US) they have $300 million dollars in a stack of un-cut $100 bill sheets on display (behind 3 layers of bullet proof glass). Now thats ballin'!
Binion's million dollar display is back Quote
08-29-2008 , 05:50 PM
Quote:
Originally Posted by doublebluff
If you take the tour at Bureau of Engraving and Printing in DC (1 of 2 places they print paper money in US) they have $300 million dollars in a stack of un-cut $100 bill sheets on display (behind 3 layers of bullet proof glass). Now thats ballin'!
Because someone would obviously want to shoot the money with a gun.
Binion's million dollar display is back Quote
08-30-2008 , 07:55 AM
What happened to five hundred and a thousand dollar bills? Did the government recall them? I remember when the new hundreds came out. Some old gamblers paniced that their cash hoard would be made obsolete or they'd have to trade it in. They brought old bills and left with new bills as often as they could from the poker.
Binion's million dollar display is back Quote
08-31-2008 , 08:34 PM
Quote:
Originally Posted by shaniac
Harrah's needed a place to store some of that November 9 money.
This needs more love
Binion's million dollar display is back Quote
08-31-2008 , 09:00 PM
Quote:
Originally Posted by Johnny Hughes
What happened to five hundred and a thousand dollar bills? Did the government recall them?
They stopped printing them in 1945 and officially retired them on July 14, 1969
Binion's million dollar display is back Quote
08-31-2008 , 11:19 PM
IIRC, somewhere Binion's used to store copies of every photo ever taken w/the mil, which included ones of John & Yoko and the Manson Family, among others.

Make a helluva coffetable book, but God alone knows where they all are now.

I believe that when the Mandalay first opened they displayed part of Parrino's collection. Really cool stuff in there, inc. two $100K bills. They had stuff for sale, mostly coins, but also some silver certificates and maybe a $500 bill.
Binion's million dollar display is back Quote
08-31-2008 , 11:26 PM
Quote:
Originally Posted by otatop
They stopped printing them in 1945 and officially retired them on July 14, 1969
I really liked Midnight Run, but I lol'd at how the Duke was supposed to 'disappear' quietly w/a huge roll of 1K bills.
Binion's million dollar display is back Quote
09-01-2008 , 09:46 AM
Quote:
Originally Posted by Johnny Hughes
What happened to five hundred and a thousand dollar bills? Did the government recall them? I remember when the new hundreds came out. Some old gamblers paniced that their cash hoard would be made obsolete or they'd have to trade it in. They brought old bills and left with new bills as often as they could from the poker.
Unlike $10,000 notes, they are still "monetized". In other words, they are still legal tender and you could take one to a bank and get 500 or 1000 singles for them.

$10,000 notes have been demonetized and are no longer legal tender. They are worth $60,000+ on the secondary market but technically, a bank could refuse to "change" them to 10,000 singles for you.

Many banks have a policy where employees can purchase, at face value, any coins or cash brought in by a customer. This often happens if someone deposits with silver certificates or silver bearing coins.

A smart teller at such a bank, would be well served to buy any $500 or $1000 notes they come across at face value and resell them to the collecting community.

A friend of mine wanted one to keep in his wallet as a conversation piece and for bragging purposes. Knowing I attend many coin/currency auctions and shows, he told me to keep an eye out for him.

Since he was going to be folding it into a wallet, he did not want an uncirculated note (they sell for a good premium).

I finally was able to procure a ratty $500 note at auction. There was a 10% buyer's fee tacked onto the hammer price. Since the note was in poor shape, the final price was just $500 plus the $50 buyer's fee.

Every time I see him, I ask to see the note. He says he's gotten way more than $50 worth of fun out of it and never misses a chance to show it off.




ps: If you find bills with unique serial numbers, they are also worth a premium. "Radar" notes that read the same backwards and forwards (58322385), "Ladders" (12345678), "Solids" (55555555), "Repeaters" (24532453), etc.

Last edited by patstap; 09-01-2008 at 10:00 AM.
Binion's million dollar display is back Quote
09-01-2008 , 11:37 AM
My buddy and me were down at Binions the other night. He tried to take a picture of the display with his phone from a couple feet behind the rail and the women watching the display came over and starting standing in front of him so he couldnt get a picture, then tried to get us to pay $20 just to take a picture of it. Granted you pay $20 for it, but they will give you $25 in cheques(or slot play) to go play with. So its kinda a win win situation.
Binion's million dollar display is back Quote
09-02-2008 , 10:26 AM
Quote:
Originally Posted by Ray Zee
a million bucks nowadays aint jack squat to have and oogle over in a billion dollar business.

why maybe i will go to the bank and get a million cash out and put it in front of kmart in town and post a picture of me throwing it up in the air. it aint no big deal.

it was forty years ago and alot of money to have tied up sitting doing nothing.
Wow, Ray. Seems to me that a million would still buy a lot of female beaver. What a waste.
Binion's million dollar display is back Quote

      
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