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Skip to content. Share this: Twitter Facebook. Like this: Like Loading If you have a rare chip or two, this will often get you the most money.
Casino chips gain value based on their rarity and how long it has been since they were taken out of circulation by the casino.
If you can collect a set, each chip will gain more value than if they were sold individually. Removing chips for circulation is a constant process by casinos, and it is the first step to your chip gaining value.
High denomination chips usually have smaller run batches and are taken out of circulation faster than lower value chips to assist in combatting fraud.
All chips, however, are eventually replaced. Despite casino chips being manufactured from hard plastic or clay, they do wear down over time.
Their deterioration is accelerated due to the automatic chip washers that are used by most casinos, to sanitize their chips. When necessary, casinos will change how their chips look through a rebranding campaign.
If you have a chip from a casino that has shut down, changed hands, or rebranded, it is likely to gain more value over time than a casino chip from an existing casino.
If you are viewing casino chip collecting as an investment strategy, then an approach is to buy a full set of chips from a casino before it closes.
Be aware that in all likelihood, it will be decades before your vintage chips become worth anything at all. The best advice is to cash out all your chips before you go — especially if you are visiting the casino from out of town.
Even if you frequent the casino often, you can never predict when the casino will rebrand or remove specific chips from circulation rendering your chips valueless.
If you do leave the area with leftover chips, you can try to trade them for at or near face value. However, at this point, you are teetering on the edge of what the law permits.
Ideally, you are still in the area and can go to the cash cage and simply trade them in. Provided you do not treat casino chips as a currency outside the casino, you are allowed to sell them under Federal law.
Overall, unless you are interested in making a long-term investment, it is best to make sure you cash in your chips before you leave and take them home.
Otherwise, you are likely to be left with valueless plastic lining your pockets. While reselling casino chips is a long-term investment strategy, it can be a highly profitable one.
The compilation consisted of chips from casinos that closed between the s and the s. However, there may never be a market for some old chips, and they will never appreciate.
Casinos use chips instead of money for several reasons. One is that their standard size and shape make storage, racking, and calculating the value of a stack much faster than dealing with cash.
This helps the dealer give out winnings quicker and easier than if the legal tender was involved. It also speeds up the cashing out process, as the cashier can weigh the chips to determine winnings, negating a lot of the issues involved in buying and redeeming chips.
Sinisterly, casinos realized that players gambled more when they used chips rather than when they played directly with cash.
Ok that was informative thank you. Can you point m e in the right direc. Try CasinoChipValues. They offer free appraisals too. I really am not sure, you might try putting them on eBay.
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