Las Vegas vault collection
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Hello. I am researching a NGC graded Morgan Dollar with a label that reads"Las Vegas Vault Collection ". NGC #4952456-001. I would appreciate any background that members could provide regarding the specific circumstances around the vault and when the contents were catalogued. Also who knows when the coins began to be marketed. 

Thanks David Dominic 

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  • Member: Seasoned Veteran

An eBay seller includes this is the description of a coin certified by NGC with that name:

Silver Dollars in "The Las Vegas Vault Collection" originated from the vaults of a famous imploded Las Vegas Casino depicted in a major motion picture. This massive hoard contains tens of thousands of circulated and uncirculated Morgan and Peace silver dollars ranging from common dates to great rarities.

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Thank you RWB.

I am a real newbie, but am discovering a few 

important things. Morgan Dollars are the coin most collectors pursue and the provenance of a well documented hoard adds a premium. The Morgan I am referencing is on the market now, and I think is being bid up past it's retail value.  Looking elsewhere for a better buy.

                     Thanks again. DD

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The ebay seller who posted that quote is probably the same guy listing tons of these coins. To me he's manipulating a search for Binion and it's paying off handsomely for him. Personally, I reported him because I know these have nothing to do with Ted Binion. From what we understand, anyone can get NGC to slap a 'hoard' label on a bunch of coins they have. Color me skeptical that there was some imploded casino and no one knew there was a vault with silver dollars in it but I haven't completely researched it yet, either. 

Edited by Scott MacMullen
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On 9/22/2020 at 7:54 AM, David Dominic said:

Thank you RWB.

I am a real newbie, but am discovering a few 

important things. Morgan Dollars are the coin most collectors pursue and the provenance of a well documented hoard adds a premium. The Morgan I am referencing is on the market now, and I think is being bid up past it's retail value.  Looking elsewhere for a better buy.

                     Thanks again. DD

Not nearly all well documented hoard coins command a premium.

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True.  Your average collector is unaware 12 tons of gold and almost 30 million ounces of silver (combined worth reportedly $375 million USD) were buried, and subsequently recovered under heavy guard from the vaults of a bank under 4 WTC, one of the buildings demolished in the aftermath of the site of the 9/11 Trade Center attacks.

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On 9/21/2020 at 9:56 AM, DWLange said:

Silver Dollars in "The Las Vegas Vault Collection" originated from the vaults of a famous imploded Las Vegas Casino depicted in a major motion picture.

And almost certainly the dollars were removed from the vaults long long before the hotel was imploded.  It's like you could describe ANY silver dollar as having "originated from a hoard located in the Treasury vaults!"  "Treasury vaults" can refer to any vault located in any Treasury  department owned building including the vaults at the mint, and all dollars once coined would have been stored in such vaults either long term or until they were shipped out to banks or later the Federal Reserve.  So they all came from hoards located in Treasury vaults.  It's just marketing.

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I picked up a few of these, which are notably in NGC slabs.  Very nice coins these Morgan dollars are ( buy the coin, not the grade) and due to the large volume, the market for some excellent Morgan dollars was momentarily saturated - I did manage each well under going rates.

 

The odd one in the lot is a stunner from San Francisco dated 1878.  Such a beauty, but conspicuously graded "Brilliant Uncirculated" like so many dubious pieces of similar vintage.  I'm guessing NGC processed such a volume for the customer, they were more of a practice certifying genuine rather than grade.  Regraded this would probably be MS 64, although I'll leave it as it is - safe from harm is all that matters.

Little detective work was required to find who the seller, shall we say, liquidator was - a largish coin and jewelry firm in the city.  I suppose they put in a bid for a lot or were contracted as an agent.  Better money could have been realized with patience - ebay can only move so much of a glut at good realized prices.  I'm happy with what I managed to get away from the dog pile.

Which vault?  I really do not care about pedigree, a beautiful quartet of Morgans at a very good price.

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On 10/4/2020 at 4:04 PM, MarkFeld said:

Not nearly all well documented hoard coins command a premium.

Yes....so many are now marketing ploys.  Excercise caution and make sure you like the coin itself AND maybe the story that goes along with it.

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