Abstract: A wire reel dispenser and holder for high tension steel cable. The dispenser includes an inner reel element including first and second side frames coupled together in axially spaced relation for receiving a wire coil therebetween. The assembled reel together with a coil of wire are inserted into an outer support frame which has a centrally disposed shaft corresponding to a hub provided on the inner reel. In this manner, the reel is rotatable within the outer support structure. The outer support structure has an interior height which is at least equal to an preferably greater than the height of the inner reel whereby the inner reel is caged within the outer support frame such that explosion of the high tension steel cable therefrom is prevented. Further, the inner reel and the outer support preferably each include a clamping structure for respectively anchoring opposite longitudinal ends of the wire or cable.