Coin Slot

Issue: 1979 February 049

Coin Slot Magazine - #049 - 1979 - February [International Arcade Museum]
halfway across the country and offers you a "Mills Doctor Vibra
tor" for a song, you'll instantly have a very good idea of whether
to snap it up or not. Many of the machines pictured in these old
catalogs are ones that I have never personally seen, but would love
to have. As far as brochures go, we have one old Mills promotional
brochure that is an original and very rare that has 8Y2" x 11" color
pictures of the War Eagle and Super Bell machines. With some
thing like this, you can paint your machines exactly the way they
came from the factory with complete authenticity.
I could go on, but I think you get the general idea. Next month
I will discuss the most valuable resource aid of all, but very rarely
used. Meanwhile, happy reading!
¥f*tf *7aV^i-wr -
"Sound Off!" is a periodic column in which the Coin Slot provides guest editorial
space to colSectors.
Ef you feel there is an issue concerning any area of coin machine col
lecting that you wish to "Sound Off" about, here's your chance.
sent all sides to an issue.
thoughts for our very first "Sound Off" column.
write to:
The Coin Slot will pre
This month collector Dave Evans has sent us some of his
If you wish to "Sound Off", please
SOUND OFF, c/o Coin Slot, Box 612, Wheatrsdge, CO 80033.
SOUND OFF
"WILL THE REAL SLOT MACHINE COLLECTOR, PLEASE STAND UP."
How can he? He exists only in his imagination. The tried and
true collector does not even exist any more. He is a thing of the
past Today, all of us are rapidly turning into dealers, opportun
ists, and investors. Why has this happened? What happened to the
true collector?
Typically, we all started with one machine-it was a lot of fun-
and we wanted more slots. We got to know a few dealers who
would sell us that much wanted machine. The dealer made money
on the sale to us, just as he should. This process was repeated
quite often, and we built a fairly nice collection. As we upgraded
this collection from High Tops to Rol-A—Tops, we all discovered
that the goin prices on our common machines had advanced sharp
ly in the year or so that we owned them, in other words, we all
made money when we unloaded these lesser machines.
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Yes, this profit was
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have
bought in 1974 for $600-700,
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costing / in
excess of $1,00Q-maybe even $1,500--or possi
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bly $2,000.
http St does not take a Harvard Business School graduate
to realize that these machines were a fantastic investment. So, we
spent more time and effort trying to buy more of these fantastic
investments. As we got to know more dealers, we all saw that
there was money in these machines. We wanted to be a dealer and
cash
on this Arcade
fantastic
profit We forgot http://www.arcade-museum.com/
all about being a true
© The in
International
Museum
Coin Slot Magazine - #049 - 1979 - February [International Arcade Museum]
collector-the long green (money) had overshadowed the idea of
being a collector of slot machines. We justified ALL purchases
with the fact that we could make money on the machine-even if
we made a bad deal-just wait a while, the spiraling prices would
catch up to our purchase price so we could turn a profit.
Why did the prices spiral? Yes, some of it was due to new slot
machine collectors getting into this fantastic hobby. Much of it
was probably due to these newer collectors building up a collec
tion. After all, there were just so many machines available-and
more buyers that sellers.
Basic Economics tells you that this
creates rising prices.
Then, the "California Phenomenon" took place-it was now legal
to own the slots, and many new collectors came on the scene.
Another phenomenon took place in California-the "rebuilder-
retailer" of slot machines. This "ex-collector" found that if he
could rebuild an old machine like new, that he could sell it for
more money than any collector would pay. Whether it was a very
collectible machine, or a very common one made no difference.
It had to look good, and operate perfectly-that was all that was
necessary.
The California "rebuilder-retailer" could pay more
money for machines, as he could get more for them. Prices went
up again, and again. The buyers of machines did not care-owning
a slot machine was rapidly becoming a status symbol for affluent
Californians, and if the machine they paid $2,000 for was now
selling for $3,000, what did they care?
As long as folks would buy that one machine for their family
room at top prices, the retailer no longer needed the slot collector.
The true slot collector was a nuisance to the retailer, as he was far
too picky on quality and authenticity of the machine. The "nov
ice" did not care if machine was perfect and authentic. This
novice market is far bigger than any collector market could ever
be.
The retailer looks to the collector for his supply of raw
materials-old slot machines-and the collectors have all supplied
him with machines.
Why? Very simple-the California retailer
could pay more. The collector forgot all about being a collector-
here was his chance to become a dealer. Here was his big chance
to make a buck.
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d fro d who
-
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Dealer/Collectors (A
dealer
some machines in his collec
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oa .arca (A collector who is turning a buck
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tion) and 4-Collector/Dealer
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Do off
ww machines). There is no true collector any
by selling
excess
w
/
/
:
more-no h more
ttp trading among collectors-the almighty dollar has
probably prostituted our hobby. Or, is it a hobby any longer? I
So where does it all end? Today, you might as well classify
those involved in slot machines as-1-Retailers, 2-Dealers, 3-
sometimes wonder!
Dave Evans
© The International Arcade Museum
http://www.arcade-museum.com/

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