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United States Paper Money > Small Size Type Notes > Federal Reserve Notes
Small Size Type Notes > Federal Reserve Notes

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$10,000 1934 B New York
Grade: PMG Ch. UNC 64    

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Benny Binion originally opened the Horseshoe Casino in 1951, combining the Eldorado Club and the Apache Hotel. It combined carpeted floors, a new feature in casinos, with a riverboat-style décor and comps available to all gamblers, not just the high rollers. When Benny was sent to federal prison for tax evasion, the Horseshoe was sold to his friend and partner Joe Brown, who owned and operated the casino until 1957, when Benny was released. Brown was seen largely as a caretaker in Benny’s absence, but installed the first display of $1 million in the lobby of the casino, which remained until 1959. Benny received full control again in 1964, but was required to leave day-to-day operations to his sons, as he was a convicted felon. In that same year replaced the $1 million dollar exhibition with 100 $10,000 bills arranged in a horseshoe. Benny was involved in the operation and maintenance of the Horseshoe until his death in 1989. Aside from the famous $1 million exhibit, Benny Binion’s son Jack was the first to host the World Series of Poker in 1970. In 1998, control of the casino passed to Becky Behnan, Jack’s younger sister, after a long legal battle. Among Becky’s cost-cutting measures to aide the casino was the sale of the $1 million dollar horseshoe display, which was purchased by Jay Parrino and broken up for sale. The casino is now operated by MTR Gaming after being purchased in 2004 by Harrah’s. This note is an excellent representative for the denomination, and a piece of history in part of this famed exhibit. It has been graded by PMG as a Choice Uncirculated 64 and I can see why. We believe there are currently fewer than 300 $10,000 notes in existence today and it is the highest denomination even in regular circulation.

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