Slot Machines Collectors

Owing to a rich history that includes prohibition laws and the general history of their development, slot machines from the days of old are valuable commodities indeed. The first fully-paying out slot machine was invented in 1899 by Charles Fey. While there certainly were other machines in existence at around that time, none of them were capable of paying out jackpot prizes. That’s why Fey’s contraption was so massively popular. Even though the device itself was rather rudimentary – with 3 spinning wheels and one payline – it revolutionized the gambling world forever. It gave birth to Fruit Machines – the European pet name for American slot machines.

Why they became so popular

In Fey’s day, at the turn of the century, gambling was general illegal in most states. In order to obviate these regulations, many makers of these gambling contraptions sold them as gum dispensers and the like. But state authorities clamped down heavily on manufacturers, thus preventing them from being sold across state lines. Nevada benefited immeasurably, but it also led to an illicit market for slot machines. Indeed the fascination with slot machines has not abated. There are a growing number of avid gamblers and collectors who are eager to lay claim to such fantastic devices. They continued to develop during the lifetimes of infamous mobsters like Alfonso Capone, Meyer Lansky, Bugsy Siegel, Frank "Lefty" Rosenthal, John "Papa Johnny" Torrio, and other notable characters.

Collectors scrambling to get a piece of history

But the association with the criminal element is only the veneer that adds to the appeal of slots. Slots are a popular part of world gaming culture and they have advanced from basic mechanical devices to electronic devices, computer operated devices and now online gaming software innovations. Many collectors are willing to pay top dollar for these vintage slot machines. Recently an antique slot machine made in Columbus sold for $37,500 at an auction in Las Vegas. And there are many such transactions taking place. While Las Vegas and Atlantic City may be the gambling meccas of the USA, the icon of those cities is indubitably the slot machine. And it was born in San Francisco, California in 1893 by Gustav Schultze and perfected to a fully paying out machine in 1899 by Fey. Today they’re a prized commodity and retail from a few hundred dollars to several thousand dollars.