Sell Casino Chips
Gambling has become one of the most favorite pastimes of people from all over the world. Today people not only visit casinos to play games like poker or blackjack, but also play these games online and even at home with their friends. There are several types of chips which are available in the market today for players. However, those who are interested in purchasing casino grade chips will have to be a little careful about the chips values.
- Who Buys Old Casino Chips
- Las Vegas Nevada Casino Chips
- Las Vegas Chip Collectors
- Where To Sell Casino Chips In Las Vegas
- Buy And Sell Casino Chips
- Las Vegas Casino Chips and Atlantic City Casino chips available for sale. Largest selection in the world of in stock chips Also available are Las Vegas casino chips as well as other US casino chips. View the casino chips by location and by Casino. Do a search for casino chips.
- While reselling casino chips is a long-term investment strategy, it can be a highly profitable one. In 2015, a $25 chip from The Golden Nugget sold for $1,000, which is a 3,900% return on investment. In 2005, a collection of 6,600 casino chips sold at auction for over $1 million.
- Under Federal law, if you legally purchase casino chips, you have the right to sell them, provided you do not treat them as a currency. This restriction means you cannot use casino chips to pay for goods or services, but you can sell them directly if you desire.
Home play chips are available in different price ranges depending on the material chips are made and the designs of the chips. These chips can be used not just for poker but for other games like blackjack too. The points given below will help to determine what chips to choose.
What chips to purchase
Chips are available in plenty of different designs and are made with different types of materials like plastic, clay, ceramic and clay composite. What chips to purchase will depend on the personal preference of the buyer. The value of the chips would depend on the material with which it is manufactured. For example, plastic chips are not such expensive as those made from pure clay are the costliest chips.
The feel of the chips
Choosing chips should also depend on the feel of the chips itself. Chips made from different materials have a different feel. For example, plastic chips will feel and look a little unprofessional and crude especialy when they are not manufactured with proper designs while clay composite chips look and feel professional even while holding them. The sound of the chips itself when placed on the table is considered to be an important factor which determines the value of the chips. Casino chips, which are usually made of composite chips, have a unique sound that is why they are costlier than the plastic chips.
The design
Each casino has their own custom-designed chip with a monetary value and casino name on the chip. Chips are color coded based on the basic values of chips of $1, $5, $10, $25, and up with variations for games like blackjack. In our visual casino chip database you will find many different chip variations across the denominations.
One of the most important factors which determine the value of the chips is the design itself. Chips are available in plenty of different designs from the plain colored chips which are usually seen in home poker chips set to the intricately designs which are usually seen in casinos. The more intricate the design of the chips is, the more costly it will be.
Also, several manufacturers often introduce limited edition poker chips for collectors. These chips will be very expensive and also worth their cost since they would be made from the best material with aesthetically pleasing design. The value of the chips is usually based on:
- the material used for the chips,
- the weight of the chips,
- the design of the chips
- the rarity value of the chips itself.
While the standard mass produced chips are perfectly fine for home play, collectors prefer the rare and valuable chips with intricate designs. The cost of the chips will also depend on the manufacturer producing them. There are several manufacturers who are known as the pioneers in the business and produce classic chips for casinos as well as home play. Generally the chips sold by them would be quite expensive but they are equally valuable since they are known for their superior quality.
'Notorious' casino chips sell for $1m
Collectors are cashing in their chips... Old tokens from infamous 20th century casinos can be prized assets
There's finally a way to beat the bank at Casinos... by collecting casino chips.
On Monday, an eBay seller incredibly made $1,000 for a single $25 chip from the Golden Nugget casino in Las Vegas.
Why did it sell for so much? Answer: it was a vintage chip.
Last week, for instance, a $1 chip for the Alpine Club in Nevada - which operated between 1944-55 - brought its seller $455.
Elsewhere, a 50 chip from the Mint Pan Room in Las Vegas sold for $400.
Who Buys Old Casino Chips
The previous day, a bidder offered $320 to win a $25 chip from the 1930s Town House casino in Reno, Nevada, which was destroyed by a blaze started by its leaseholder in 1955.
'You need to be quite selective in the chips you collect if you want to do it as an investment - or be prepared to hang onto them long, long term,' says Michael Behiel, a collector from Regina, talking to The Financial Post.
The value of Mr Behiel's 1,200-chip hoard has tripled in value over the last 10 years, he says.
'I tried for a while to do flips for profit and found that most of the mainstream chips around today are far too common to even break even on.'
Unlike stocks and shares, which are all about money and profit, casino chip collectors - many ardent gamblers themselves - cherish what they own for the stories and history attached.
For chip collectors, rarity and condition are also crucial factors.
A set of five rare Lilly Belle $25 chips from the Black Hawk Casino in Colorado attracted 23 bids on eBay, selling for US$639.09. Only 45 of the chips were ever made in 1992.
Fascinatingly, the 'notoriety' of the casino can add value to the chips. And notoriety and casinos often go hand-in-hand...
Las Vegas Nevada Casino Chips
For instance, the Aladdin, Circus Circus, Desert Inn, Dunes, and El Cortez, for instance, were all owned by gangsters.
And casino chips, like other collectibles, has its 'holy grails'...
In October, 2005, a huge collection of 6,600 casino chips and tokens, The Platinum Collection, many from casinos that closed between the 1930s to the 1950s, sold on eBay for an astonishing $1m.
Mr Behiel's collection includes a valued chip, inlayed with 24K gold flake. It is so valued because the its casino's 85 year-old owner, Leonard Schoen, died before it could be used.
Schoen's business associates were convicted felons, his children fought over his wealth and his daughter in-law was murdered - leading Schoen to commit suicide in 1999.
In 1947, Flamingo owner Bugsy Siegel was shot through a window; his successor at the Flamingo and his wife were murdered; and casino builder Tony 'the Hat' Cornero died of suspected poisoning while at a craps table in 1955.
Las Vegas Chip Collectors
Whether its Schoen's suicide of Siegel's murder, notoriety and stories can boost the value of collector's chips.
Collectors generally trade with each other, exchanging chips they can get locally.
However, one risk for collectors is when a flood of chips from a long-closed casino will be released on the market.
'This certainly has a detrimental effect on the values,' says Mr Behiel.
Where To Sell Casino Chips In Las Vegas
Asked if he was a gambler, Mr. Smith says: 'My wife and I have a motto: Since we can't win them, we buy them!' he told the Financial Post.
Buy And Sell Casino Chips
Photo: `Pacdog