If smooth edges on Kennedy half dollars were caused by slot machines

SoFlo

Why don't more Eisenhower Dollars have smooth edges, pretty much the same composition and a heavier coin right?

JBK

Good question.

Here are guesses:

1) a few of them do.

2) as I recall the story, in the 1960s when silver dollars were no longer available in sufficient quantities (and eventually not at all), the casinos were a granted a special exemption that allowed them to issue tokens of the same dimensions as the dollar coins.

Subsequently, Ike dollars were never really needed for the slot machines, and we also have lots of dollar slot machine tokens that survive as collectables.

HiBucky

I have a few pennies that have a slightly raised rim. They are strange looking a dealer said it was cause being caught in a dryer .. They are strange looking ( I have about 4 found over years ) and it is the only response I have had that could make sense.

ifthevamzarockin

I know a little about slot machines, I don't think a slot machine is the cause of a smooth edge.
I have 4 slot machines, here is my 50 cent one.

bearcave

Half dollars lasted in slot machines a lot longer than dollars did. The casinos went to dollar tokens sooner and you could not use dollars any more.

AUandAG

@JBK said:
Good question.

Here are guesses:

1) a few of them do.

2) as I recall the story, in the 1960s when silver dollars were no longer available in sufficient quantities (and eventually not at all), the casinos were a granted a special exemption that allowed them to issue tokens of the same dimensions as the dollar coins.

Subsequently, Ike dollars were never really needed for the slot machines, and we also have lots of dollar slot machine tokens that survive as collectables.

Not true at all. Slots took either Ikes or tokens. Slots did nothing to the rims of coins. That is not the cause for any reeding wear.

bob

JBK

@AUandAG said:

@JBK said:
Good question.

Here are guesses:

1) a few of them do.

2) as I recall the story, in the 1960s when silver dollars were no longer available in sufficient quantities (and eventually not at all), the casinos were a granted a special exemption that allowed them to issue tokens of the same dimensions as the dollar coins.

Subsequently, Ike dollars were never really needed for the slot machines, and we also have lots of dollar slot machine tokens that survive as collectables.

Not true at all. Slots took either Ikes or tokens. Slots did nothing to the rims of coins. That is not the cause for any reeding wear.

bob

What is "not true at all"? Please specify.

I stated that the casinos were allowed to make tokens that were the same size as dollar coins, the obvious reason being that dollars and tokens could circulated together in the slot machines, which seems to be exactly what you said.

As for half dollars that are beat up with smooth edges, I had always understood that those were Vegas (or Atlantic City) coins. If that is not the source of the damage, does anyone know what is? The rims are not raised so they are not dryer coins.

MasonG

I found a dime with a completely smooth edge when I was a kid. It was in Reno.

Just sayin'.

AUandAG

@JBK said:

@AUandAG said:

@JBK said:
Good question.

Here are guesses:

1) a few of them do.

2) as I recall the story, in the 1960s when silver dollars were no longer available in sufficient quantities (and eventually not at all), the casinos were a granted a special exemption that allowed them to issue tokens of the same dimensions as the dollar coins.

Subsequently, Ike dollars were never really needed for the slot machines, and we also have lots of dollar slot machine tokens that survive as collectables.

Not true at all. Slots took either Ikes or tokens. Slots did nothing to the rims of coins. That is not the cause for any reeding wear.

bob

What is "not true at all"? Please specify.

I stated that the casinos were allowed to make tokens that were the same size as dollar coins, the obvious reason being that dollars and tokens could circulated together in the slot machines, which seems to be exactly what you said.

As for half dollars that are beat up with smooth edges, I had always understood that those were Vegas (or Atlantic City) coins. If that is not the source of the damage, does anyone know what is? The rims are not raised so they are not dryer coins.

I have no idea the cause of the missing reeding. But, I did grow up in a casino as my mother owned one. I worked the hard count room until I left for college which was about 5 years or so. I was under aged and could not work the floor or such but could count and sort, etc. All I know is that it was in the days of real silver as I left for college in fall of '64. I was into coin collecting at the time and actually put together nice sets of halves and dollars for my mother as I could not afford to save them for myself. Wear was uniform with edge wear equal to surface wear. We saw no damage from slot use. Trust me when I say our Bank would have yelled at the top of their lungs if we were giving them back underweight coins as what would happen with missing reeding.
Casinos were allowed to make the tokens as mentioned and they worked with the Ikes (Ikes were actually produced at the request of casinos to replace silver dollars). Tokens became the choice as the casino could keep people coming back as the casinos did not accept other's tokens (without a real hassle). So, if you had a customer that won 300 tokens and off he went home, he'd be back to either play them or cash them in and thus would likely spend more again. Casinos loved that part of it. Tokens were reeded as well and since they are collectible you can find old ones out there and the reeding on them is just fine.
Hope this helps, just my perspective.
bob

JBK

Just to remind, flattened reeding would not result in underweight coins.

RedStorm

I never played slots much in Vegas but the biggest win I ever had back when most Vegas slots used and paid out in real coinage was on a half dollar machine. I think the payout was like $250. A lot of ear-ringing clanking with the payout gave a nice heavy bucket of half dollars! (And not one stinkin’ silver one in the bunch...!)

SoFlo

The slot machine theory is what I've heard many times as an explanation for the smooth edges on a Kennedy half dollar. The reason I brought this up is because I was at the bank yesterday and picked up $250.00 worth of Kennedy half dollars. When I got home I discovered that 43 of them had smooth edges (Strange).

By the way, out of $250.00 worth of coins I came away with one 1965, everything else was clad.