From 1964 to 1999, Binion's Horseshoe Casino in Las Vegas had 100 $10,000 bills on display. The collection was finally broken up in anticipation of the casino's insolvency, and the bills were sold individually to collectors. Some of the bills brought as high as $160,000 apiece, i.e. 16 times their face value, which is not as impressive if you consider that a penny recently sold for over $2.5 million, i.e. 250,000,000 times its face value.
A new Binion's casino has risen from the ashes, and it again has $1,000,000 on display--but only with boring, ordinary types of bills no greater than $100.
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| By National Museum of American History through Wikimedia Commons |
Why do people pay $160,000 for $10,000?
ReplyDeleteWell, some people have a lot of money and little sense and figure that the bill must be worth something due to its rarity, as there are less than 336 of them still in existence. I personally would look towards a 1967 Shelby GT500 convertible if I had money to burn.
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