1931 War Eagle Completely Restored

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Re: 1931 War Eagle Completely Restored

Postby flipper77 » Fri Mar 29, 2013 10:01 am

Just wanted to add it is very easy to check the serial number. Should be in metal at top right by handle. So that is easy to resolve. This is a gorgeous War Eagle restoration and a very desireable machine. People pay much more for "art" that does not compare to your machine - you have a working fascinating antique. Professional restoration does not come inexpensively so be sure and appreciate this great collectible.

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Re: 1931 War Eagle Completely Restored

Postby buzzojoe » Fri Mar 29, 2013 11:11 am

As someone else pointed out, insurance appraisals are ALWAYS greatly overstated. It's a game. The appraisers put an inflated value on the item and then the insurance companies compensate for it by "prorating" the item or only paying a percentage of the appraised value in their policy. I have a friend who's Mom just passed away. She left him some jewelry that she had appraised for insurance purposes at Over $100,000.00. He thought that he was going to sell it and buy a new corvette ZR-1, and was pissed at everyone (including me) who told him that he should only count on getting 30% of the appraised value for it. He went to every auction house and pawn type shop around and finally accepted the truth after every single place told him the same thing.
And regarding the restoration, a few years ago I restored a 68 GTO and spent more than the car is worth on the restoration because I did it as a fun project.
It's sad that this gentleman was mislead (or feels that he was) regarding the value of his slot machine. Another thing that always needs to be considered is that the value of most collectibles changes over the years. The economy, along with the age of the people who collect the item are big factors in value. Things like Victrola record players that were very valuable 20 years ago are pretty much worthless now. Same is true with many juleboxes and things like "vest pocket" slot machines.
That's why we all need to try to encourage people to do research on eBay and other websites to find the REAL value of items before buying them or spending money on restoration work.
And I had to stop watching "American Restoration" because I spent the whole time yelling at the TV because of the ridiculous values the guy tells everyone....
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Re: 1931 War Eagle Completely Restored

Postby TheFatman » Fri Mar 29, 2013 12:31 pm

I enlarged the front casting and I cant see the jackpot adjustment door on it. Now my next question is were there any "original' War Eagles made without this door? All I know is the ones I have had all had those adjustment doors, and the ones that didn't were recast reproductions. I am just curious.... and in the event I am wrong, which wont be the first time, I am going to get new glasses.
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Re: 1931 War Eagle Completely Restored

Postby andydotp » Fri Mar 29, 2013 3:33 pm

Hold off on the new specs Dave F....
A couple of points from upsidedownland.
My original Nickel War Eagle - serial No. 370412 has no JP access door and funnily enough this issue was one of the questions I asked the seller ten-odd years ago.
That seller was indeed Don Creekmore at Nations Attic. I bought three machines from Don and he was only ever helpful, genuine and good for his word. Bear in mind those were the days of sending International Bankers' cheques through the mail so no paypal buyer protection - just down to earth trust.
His appraisal's are always qualified as being 'for insurance purposes' which is sensible. Further, I don't doubt for a minute the $2k cost for the hours put in to restore ddepre1's lovely machine. We don't know how many spare or new parts were required either remember?
The other Q I put to Don at the time was "why does it have that clover-leaf-looking denominator and not a 5c one"? I don't rememember ever finding this out and have never seen that denominator on anything other than early War Eagles.
Cheers,
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Re: 1931 War Eagle Completely Restored

Postby TheFatman » Fri Mar 29, 2013 4:40 pm

Thank you for the info.... always eager to learn more and more.
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Re: 1931 War Eagle Completely Restored

Postby andydotp » Fri Mar 29, 2013 6:11 pm

Couldn't agree more Dave and if anyone can shed some light on that coin denominator it'd be much appreciated.
Thx,
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Re: 1931 War Eagle Completely Restored

Postby Administrator » Fri Mar 29, 2013 7:08 pm

If you look at both machines you will see that they are 2/4 payouts. I had a very early Mills War Eagle which also paid 2/4 and it was a 10 stop mechanism. I don't remember the serial number but know it was a very early machine. I am pretty sure it didn't have a JP inspection door either.

I was told that Mills used the left over 10 stop mechanisms in their very early War Eagles. Makes sense to me.

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Re: 1931 War Eagle Completely Restored

Postby Dave » Fri Mar 29, 2013 7:15 pm

Speaking of appraisals, there is a local jewelry store that advertises that they "guarantee that every piece we sell will appraise for DOUBLE".

Give me a break. :roll:
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Re: 1931 War Eagle Completely Restored

Postby TheFatman » Fri Mar 29, 2013 7:51 pm

That seems to me to make a lot of sense. I guess on the early machines they didnt realize that a door would work better for adjusting and added it to their later runs. I do know this and that is with the recast ones I have seen, they all had the outline on the casting where the door would be, but the casting was solid.
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Re: 1931 War Eagle Completely Restored

Postby andydotp » Sat Mar 30, 2013 3:24 pm

Thanks Admin for adding my picture.
Yep, 2/4 payout and ten stop with tin reel strips so an early machine for sure. I love the way it 'silently' 'whirrrrs'
That coin denomintor still has me beat tho' :( .
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