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| Pennybandit.co.uk |
| Advice on buying a one arm bandit |
Advice on Buying a Slot Machine Many people ask me what is the
"best" kind of slot machine to buy. In other words, do they want a
modern style Bally or an antique slot?
This, in my opinion, depends on what they are purchasing the
machine for. If you want a machine for your game room for people to
play during parties then it is tough be beat a Bally . Bally machines
are the same ones that people play in casinos today. They take
multiple coins, have lots of bells and lights are easy to play (i.e.,
handle pulls easy) and they run forever.
If however, you want a machine that has a lot of history behind it, has
the potential to increase in value (more than a Bally, in my opinion)
but still plays then go for the antique. There were several slot machine
companies 50 years ago (Mills, Jennings, Pace, Watling, to name a
few) and each company designed lots of different styles of machines.
No matter what your taste is, you can probably find a machine that will
look perfect in your home. For example, did you know that they
actually made slot machines that paid out in Golf Balls? A golf nut
might love one of these in his or her den.
If considering an antique I STRONGLY recommend you get some
books. There are several good books out there which not only have
photographs but also talk about the history of the slot machine. Two
books that I recommend are: Slot Machines, the First 100 years (by
Marshall Fey) Slots 1, an illustrated guide to 100 collectible Slot
Machines (by Bueschel) Both books have a price guide with them
(although Slots 1 is a bit dated) Once you have these books you
should know what type of antique you would like (if any). You should
then either go to a coin-op show and/or find yourself a reputable slot
machine dealer. Dealers are pretty well net worked together and if
they do not have the machine you are looking for they can probably
find it (unless it is a very rare machine). If a dealer knows he has a
machine pre-sold he will not have to mark it up near as much as he
would if he bought it out right and started hauling it around to shows.
In addition, a dealer will probably sell a machine to another dealer for
less then he would sell it to the general public (i.e., you). Therefore,
using a dealer as a locator will probably not cost you any more than if
you started hunting the machine down yourself (in fact it might cost
you less!)
Another place to find machines is auctions. It is not unusual to find a
machine at an auction. However, you should realize that auctions can
be dumping grounds where people take machines that they do not
want (possibly missing important pieces or are reproduction
machines). In addition, if the auction was well advertised you will
probably be competing with slot machine dealer and collectors (who
know a lot more about machine than you do). Having said that, some
very good deals can be found at auctions. You might also make
some good contacts My last piece of advice is the following. If you
want an antique make sure you are buying an antique and not a
reproduction. The last thing you want is to pay top dollar (or any
dollar) for a machine that you think is an antique only to find out later
that it is a reproduction. If you are unsure about the machine ask for a
certificate of authenticity.
-------------------------------------------------------------------------------- The
following information was added due to the fact that there have been
a large number of either reproduction or misrepresented machines
on the web This is especially true for a site that specializes in
auctions. A few good machines do go through the site but their is a
lot of pure crap being peddled through it too! There have also been a
lot of reproduction Jennings Governors /Chief ,,,War Eagles and
Golden Nuggets being advertised as antiques. I am now offering
more advice for people buying machines from either dealers or
private parties.
-------------------------------------------------------------------------------- Questions
to ask if buying from a store, antique dealer, or collector Since you
are buying from a person who should know their merchandise, they
should be able to easily answer the following questions. If they cannot
answer the questions I would be very hesitant about buying from them
unless you think the machine is a very good deal (unlikely, because if
it was a steal they would have already sold it to another dealer).
Realize, you are paying above wholesale if you are buying from a
dealer (remember they also have to eat) but you should be getting
quality merchandise for your money. There are a lot of people selling
slot machines on the web. They try to give the impression they are
dealers but I have found that many of them do not know anything
about slots. In some cases they are selling obvious reproductions
and marketing them as original in other cases they are
misrepresenting the machines (e.g., saying they are very rare, not
stating the age correctly, etc.). Does the machine have at least 95%
original parts (by weight)? If the answer is no or I don't know then my
recommendation is to pass on the machine. What is the serial
number on the machine? They should be able to immediately show
you the serial number or explain why the machine does not have one.
Repro. machines typically do not have serial numbers. Is the back
door original? A lot of machines are found missing the back door. If
the machine has an original back door it is a good sign. Is the lock on
the back door original? If the machine has an original lock then it is a
good sign the machine is legitimate because original locks are
expensive. If the machine has a repro. lock then that is OK, just take
that into consideration with the price. Is the cash box original? Many
times cash boxes are not in the machine when we find them. Repro.
cash boxes are OK, just make sure the price of the machine reflects
that. Is the cash box supposed to have a lock? If so is it the original
lock? It is not unusual for the cash box lock to be missing. If the
machine does have it then there is a very good chance you are
looking at a good machine. Are any of the castings reproduction
(AKA remanufactured)? I would not buy a machine with repro
castings. Have the castings been restored or do they have original
paint. If they have been restored, are the colors close to what they
should be? Note: If the castings have not been restored it should be
pretty obvious from looking at them. If the paint is bright then odds
are they have been repainted (which is OK, you should just know).
Note: Some of the machines made back in the 30s and 40s were
downright ugly. Having a different paint scheme does not necessarily
detract from the value. However, the dealer/collector should be able
to tell you if the scheme is close to original or not. If he/she can't then
odds are they don't know very much about that particular machine.
Does the machine have a complete and working jackpot (including
the reserve portion). Many reproduction machines do not have
working jackpots. If the machine you are looking at is supposed to
have a working jackpot (and reserve, if appropriate) and does not
then I would recommend not buying it. Does the machine have an
original, complete, and working escalator? Some Mills reproduction
machines do not even have escalators, others have reproduction
escalators. I would not buy a Mills machine that had a reproduction or
missing escalator (machines made before 1930 did not have
escalators). Original Mills escalators have holes in them to all allow
the operator to easily un-jam coins. Most repro. escalators do not
have these holes. Does the machine have all the check detection
hardware in it? If they don't know what the check detection hardware
is, then I would not to business with them. It is obvious they do not
know slots. Is the wood case original? Original cases are more
desirable then repros. Has the case been refinished? Some times a
new case needs to be put on a machine because the old case was
just too trashed. New cases (especially the wood base) are OK, just
make sure the price reflects that. Are the reel strips original or new
ones? It is no big deal if they are new, the dealer should be able to
easily tell you. Metal reel strips in good condition are the most
desirable, however, paper strips in good condition (or even new
strips) are perfectly acceptable. If the machine has torn reel strips be
sure reproduction strips are available before you purchase the
machine. Is the award card original or new? Again, no big deal either
way, the dealer should be able to tell you. Obviously, nice originals
are preferred over reproduction. Are you willing to give me a letter
stating that the machine is authentic? A letter is only as good as the
dealer providing it, but at least it is something.
-------------------------------------------------------------------------------- Buying
from a private party People, who are not collectors or dealers will
generally know a lot less about their machines. Most of the above
questions are useless (but go ahead and ask them anyway, just don't
expect much in the way of answers). If the machine looks old it is
probably a good machine, however, it may be missing parts. Most
private people think that their machine is usually worth more than it is.
They do not realize how much time and expense is involved in
fixing/restoring a machine. Tell me the history behind the machine,
how did you acquire it? If they bought it from a dealer or store ask for
the stores name. If it has been in the family for a long time (> 40
years) then this is a good sign. Since you are not buying from a
dealer, you should expect to get the machine for about 50 - 70% of
what a dealer would be asking. If the machine needs parts or
restoration you should probably pass since slots parts are expensive
and hard to find. Let a collector/dealer deal with it. If the machine has
old coins in it then that is a very good sign because it usually means
no one has messed with it (since money is the first thing they take).
"best" kind of slot machine to buy. In other words, do they want a
modern style Bally or an antique slot?
This, in my opinion, depends on what they are purchasing the
machine for. If you want a machine for your game room for people to
play during parties then it is tough be beat a Bally . Bally machines
are the same ones that people play in casinos today. They take
multiple coins, have lots of bells and lights are easy to play (i.e.,
handle pulls easy) and they run forever.
If however, you want a machine that has a lot of history behind it, has
the potential to increase in value (more than a Bally, in my opinion)
but still plays then go for the antique. There were several slot machine
companies 50 years ago (Mills, Jennings, Pace, Watling, to name a
few) and each company designed lots of different styles of machines.
No matter what your taste is, you can probably find a machine that will
look perfect in your home. For example, did you know that they
actually made slot machines that paid out in Golf Balls? A golf nut
might love one of these in his or her den.
If considering an antique I STRONGLY recommend you get some
books. There are several good books out there which not only have
photographs but also talk about the history of the slot machine. Two
books that I recommend are: Slot Machines, the First 100 years (by
Marshall Fey) Slots 1, an illustrated guide to 100 collectible Slot
Machines (by Bueschel) Both books have a price guide with them
(although Slots 1 is a bit dated) Once you have these books you
should know what type of antique you would like (if any). You should
then either go to a coin-op show and/or find yourself a reputable slot
machine dealer. Dealers are pretty well net worked together and if
they do not have the machine you are looking for they can probably
find it (unless it is a very rare machine). If a dealer knows he has a
machine pre-sold he will not have to mark it up near as much as he
would if he bought it out right and started hauling it around to shows.
In addition, a dealer will probably sell a machine to another dealer for
less then he would sell it to the general public (i.e., you). Therefore,
using a dealer as a locator will probably not cost you any more than if
you started hunting the machine down yourself (in fact it might cost
you less!)
Another place to find machines is auctions. It is not unusual to find a
machine at an auction. However, you should realize that auctions can
be dumping grounds where people take machines that they do not
want (possibly missing important pieces or are reproduction
machines). In addition, if the auction was well advertised you will
probably be competing with slot machine dealer and collectors (who
know a lot more about machine than you do). Having said that, some
very good deals can be found at auctions. You might also make
some good contacts My last piece of advice is the following. If you
want an antique make sure you are buying an antique and not a
reproduction. The last thing you want is to pay top dollar (or any
dollar) for a machine that you think is an antique only to find out later
that it is a reproduction. If you are unsure about the machine ask for a
certificate of authenticity.
-------------------------------------------------------------------------------- The
following information was added due to the fact that there have been
a large number of either reproduction or misrepresented machines
on the web This is especially true for a site that specializes in
auctions. A few good machines do go through the site but their is a
lot of pure crap being peddled through it too! There have also been a
lot of reproduction Jennings Governors /Chief ,,,War Eagles and
Golden Nuggets being advertised as antiques. I am now offering
more advice for people buying machines from either dealers or
private parties.
-------------------------------------------------------------------------------- Questions
to ask if buying from a store, antique dealer, or collector Since you
are buying from a person who should know their merchandise, they
should be able to easily answer the following questions. If they cannot
answer the questions I would be very hesitant about buying from them
unless you think the machine is a very good deal (unlikely, because if
it was a steal they would have already sold it to another dealer).
Realize, you are paying above wholesale if you are buying from a
dealer (remember they also have to eat) but you should be getting
quality merchandise for your money. There are a lot of people selling
slot machines on the web. They try to give the impression they are
dealers but I have found that many of them do not know anything
about slots. In some cases they are selling obvious reproductions
and marketing them as original in other cases they are
misrepresenting the machines (e.g., saying they are very rare, not
stating the age correctly, etc.). Does the machine have at least 95%
original parts (by weight)? If the answer is no or I don't know then my
recommendation is to pass on the machine. What is the serial
number on the machine? They should be able to immediately show
you the serial number or explain why the machine does not have one.
Repro. machines typically do not have serial numbers. Is the back
door original? A lot of machines are found missing the back door. If
the machine has an original back door it is a good sign. Is the lock on
the back door original? If the machine has an original lock then it is a
good sign the machine is legitimate because original locks are
expensive. If the machine has a repro. lock then that is OK, just take
that into consideration with the price. Is the cash box original? Many
times cash boxes are not in the machine when we find them. Repro.
cash boxes are OK, just make sure the price of the machine reflects
that. Is the cash box supposed to have a lock? If so is it the original
lock? It is not unusual for the cash box lock to be missing. If the
machine does have it then there is a very good chance you are
looking at a good machine. Are any of the castings reproduction
(AKA remanufactured)? I would not buy a machine with repro
castings. Have the castings been restored or do they have original
paint. If they have been restored, are the colors close to what they
should be? Note: If the castings have not been restored it should be
pretty obvious from looking at them. If the paint is bright then odds
are they have been repainted (which is OK, you should just know).
Note: Some of the machines made back in the 30s and 40s were
downright ugly. Having a different paint scheme does not necessarily
detract from the value. However, the dealer/collector should be able
to tell you if the scheme is close to original or not. If he/she can't then
odds are they don't know very much about that particular machine.
Does the machine have a complete and working jackpot (including
the reserve portion). Many reproduction machines do not have
working jackpots. If the machine you are looking at is supposed to
have a working jackpot (and reserve, if appropriate) and does not
then I would recommend not buying it. Does the machine have an
original, complete, and working escalator? Some Mills reproduction
machines do not even have escalators, others have reproduction
escalators. I would not buy a Mills machine that had a reproduction or
missing escalator (machines made before 1930 did not have
escalators). Original Mills escalators have holes in them to all allow
the operator to easily un-jam coins. Most repro. escalators do not
have these holes. Does the machine have all the check detection
hardware in it? If they don't know what the check detection hardware
is, then I would not to business with them. It is obvious they do not
know slots. Is the wood case original? Original cases are more
desirable then repros. Has the case been refinished? Some times a
new case needs to be put on a machine because the old case was
just too trashed. New cases (especially the wood base) are OK, just
make sure the price reflects that. Are the reel strips original or new
ones? It is no big deal if they are new, the dealer should be able to
easily tell you. Metal reel strips in good condition are the most
desirable, however, paper strips in good condition (or even new
strips) are perfectly acceptable. If the machine has torn reel strips be
sure reproduction strips are available before you purchase the
machine. Is the award card original or new? Again, no big deal either
way, the dealer should be able to tell you. Obviously, nice originals
are preferred over reproduction. Are you willing to give me a letter
stating that the machine is authentic? A letter is only as good as the
dealer providing it, but at least it is something.
-------------------------------------------------------------------------------- Buying
from a private party People, who are not collectors or dealers will
generally know a lot less about their machines. Most of the above
questions are useless (but go ahead and ask them anyway, just don't
expect much in the way of answers). If the machine looks old it is
probably a good machine, however, it may be missing parts. Most
private people think that their machine is usually worth more than it is.
They do not realize how much time and expense is involved in
fixing/restoring a machine. Tell me the history behind the machine,
how did you acquire it? If they bought it from a dealer or store ask for
the stores name. If it has been in the family for a long time (> 40
years) then this is a good sign. Since you are not buying from a
dealer, you should expect to get the machine for about 50 - 70% of
what a dealer would be asking. If the machine needs parts or
restoration you should probably pass since slots parts are expensive
and hard to find. Let a collector/dealer deal with it. If the machine has
old coins in it then that is a very good sign because it usually means
no one has messed with it (since money is the first thing they take).