1965-1966 When Nevada’s casinos switched the form of currency accepted in their $1 slot machines to a token from the nearly extinct silver coin in 1965, it had an unexpected result. People around the world wanted to collect the new pseudo-money. Since the change went into effect following U.S. Treasury and Silver State approval in…
1925 As of 1915, Nevada gambling law only allowed slot machines that discharged tokens, or bingles, exchangeable for on-site merchandise; those that paid out in money or bingles redeemable for currency were forbidden. “The fact remains, however, that the illegal money machines are running unmolested all over the state and particularly in Reno, under the…
1965 The U.S. suffered a shortage of coins in 1965. And that led to decreased business for Nevada’s largest industry — gambling. Usage of half-dollars, common in casinos then for table games and one-armed bandits, experienced the biggest hit. That year, silver supply was scarce and its price high, at $1.29 per ounce. At $1.38,…