How to Collect Casino Chips
Casino chip collection has become an increasingly popular practice especially after the 1985 issue of the Bill Borland’s Worldwide Casino Exchange which published a story on Harold’s Club. Basically the practice involves the intentional retention of casino chips for collection purposes.
Initially, the hobby circled around people keeping the chips as a token or souvenir which reminded them of the casino they visited. However, with the advent of eBay, chips were collected and traded and the hobby soon turned into a business. As the popularity and demand of these collectibles grew, an official grading system was placed which placed a price tag on casino chip collectibles. The two official price guides include The Official U.S Casino Chip Price Guide and The Chip Rack.
Instructions
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1
Checking the price guide
This remains the best way to get an accurate estimate on the worth of your chips. The Casino Price Guide, which is in its 4th edition, covers casinos based in Nevada, Atlantic City, N.J, Deadwood, S.D. As for the Chip Rack, which is now in its 12th edition, casino chips in the state of Nevada are listed.
The Casino Chip & Gaming Tokens Collectors Club - CC & GTCC – is another guide that publishes a quarterly report. This is useful for those collectors, not based in the United States. There is also an online price guide where you can gauge the worth of your chips (chipguide.com). All these guides will further allow you to check the prices of certain chips which are on sale. There are various grading systems in place, with value being placed as high as $50,000. -
2
Grading system
Before discussing the grading system in detail, it is not necessary that older chips will have the highest value. There are various factors which entice collectors to spend their money on chips. These will range from those with some history as was the case with illegal chips in the Midwest during the early 20th century, rarity (either limited in stock or designed specifically for a grand-day use), and condition. As for the latter the price guide has assigned following categories.
New (N) - will be referred to those chips which have absolutely no wear and tear.
Slightly Used (SU) – Only used once or twice, but the overall condition is excellent.
The grading will go on and will include average collectibles, poor, modified and damaged.
