Gold Coast Casino chip question

I had a friend bring me back this $5 chip from Gold Coast Casino in Vegas back in 2004 or 2005. This was about 4 years before i started gambling, and now have amassed many more chips. I'll be going to Vegas for the first time here in the next year or so, and I was wondering if this was still good, or if it's worth anything at all.




Thank you! :)

Of course it is good for as long as the casino is open. It is sadly probably only worth $5

If it had any value for a collector, I wouldn't know about that.

REGULATION 12 CHIPS AND TOKENS

Quote:

12.070 Redemption and disposal of discontinued chips and tokens.
1. A licensee that permanently removes from use or replaces approved chips or tokens at its
gaming establishment, or that ceases operating its gaming establishment whether because of
closure or sale of the establishment or any other reason, must prepare a plan for redeeming
discontinued chips and tokens that remain outstanding at the time of discontinuance. The
licensee must submit the plan in writing to the chairman not later than 30 days before the
proposed removal, replacement, sale, or closure, unless the closure or other cause for
discontinuance of the chips or tokens cannot reasonably be anticipated, in which event the
licensee must submit the plan as soon asreasonably practicable. The chairman may approve the
plan or require reasonable modifications as a condition of approval. Upon approval of the plan,
the licensee shall implement the plan as approved.
2. In addition to such other reasonable provisions as the chairman may approve or require, the
plan must provide for:
(a) Redemption of outstanding, discontinued chips and tokens in accordance with this
regulation for at least 120 days after the removal or replacement of the chips or tokens or for at
least 120 days after operations cease, as the case may be, or for such longer or shorter period as
the chairman may for good cause approve or require;
(b) Redemption of the chips and tokens at the premises of the gaming establishment or at such
other location as the chairman may approve;
(c) Publication of notice of the discontinuance of the chips and tokens and of the redemption
and the pertinent times and locations in at least two newspapers of general circulation in Nevada
at least twice during each week of the redemption period, subject to the chairman’s approval of
the form of the notice, the newspapers selected for publication, and the specific days of
publication;
(d) Conspicuous posting of the notice described in paragraph (c) at the gaming establishment
or other redemption location; and
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman
may approve or require.

If it was a lot higher denomination of chip, or it involved a lot more of them, it is possible they could have some issues. But it isn't. It is five bucks. Enjoy, and try to spend it all in one place. I don't recommend the Gold Coast buffet. I do recommend anything in Ping Pang Pong there, if you can find something on the menu for fie-dollah-ish.

It is my understanding that chips with the same edge markings are all considered a single series.

Therefore, if their newest chips have the same red/yellow configuration, then your chip is still current, regardless of any date indicated on the commemoration.

IE. If you look at a stack of chips edges and can't identify the old one, then they're all current.

The Nevada Gaming Control Board maintains a list of chips that are valid and invalid.

According to the "historical list", the Charles Sampson chips issued by Gold Coast (in $5, $25, and $100 denominations) are still good (the "00/00/00" in the third column indicates that it has not been "disapproved").

I think I've probably learned something from the last two replies. But I wonder about the real meaning/significance of that third "disapproved" column of the "historical list." So far I'm not finding a single instance of anything but "00/00/00" listed there for any chip in the 1,200+ pages of it, including those from well and truly deceased places such as the Stardust (*sniff* R.I.P.), The Riviera (good riddance), and even the "Castaways Casino and Bowling Center" which was a casino/hotel on Boulder Highway that I saw imploded and which has since remained a large dusty vacant lot for about a decade now.

Quote: DrawingDead

I do recommend anything in Ping Pang Pong there, if you can find something on the menu for fie-dollah-ish.

Ate there for the first time a couple weeks ago, food is excellent!

Quote: DrawingDead

I think I've probably learned something from the last two replies. But I wonder about the real meaning/significance of that third "disapproved" column of the "historical list." So far I'm not finding a single instance of anything but "00/00/00" listed there for any chip in the 1,200+ pages of it, including those from well and truly deceased places such as the Stardust (*sniff* R.I.P.), The Riviera (good riddance), and even the "Castaways Casino and Bowling Center" which was a casino/hotel on Boulder Highway that I saw imploded and which has since remained a large dusty vacant lot for about a decade now.

My bad - the list shows when the chip was initially approved (with a date in the "approved" column) or disapproved (with a date in the "disapproved" column). However, I don't see why the original chip wouldn't be accepted. Is there even a provision for "decommissioning" an existing chip if the casino that issued it is still in existence?

Quote: ThatDonGuy

...<SNIP>... Is there even a provision for "decommissioning" an existing chip if the casino that issued it is still in existence?

I think there is. I think I've seen this...

Quote: NGCB

(c) Publication of notice of the discontinuance of the chips and tokens and of the redemption
and the pertinent times and locations in at least two newspapers of general circulation in Nevada
at least twice during each week of the redemption period, subject to...

...sometime for something somewhere, but can't remember specific details and have nothing to cite to back up what I partly remember of what think I've seen. In one instance, I think I may have run into something like that related to the IP being rebranded as Quad, before becoming re-re-branded and emerging from rehab (but continuously owned & operated by the same Chaesey Empire) as Link or Linq or Linque or whatever da fork it is this week.

Quote: DrawingDead

I think there is. I think I've seen this... ...sometime for something somewhere, but can't remember specific details and have nothing to cite to back up what I partly remember of what think I've seen. In one instance, I think I may have run into something like that related to the IP being rebranded as Quad, before becoming re-re-branded and emerging from rehab (but continuously owned & operated by the same Chaesey Empire) as Link or Linq or Linque or whatever da fork it is this week.

When I was at the Venetian the last week of May 2014, they had signs at all the cashier windows saying that all their chips must be exchanged for new ones/cash no later than some date in that near future, and the old chips would be non-negotiable after that. So I guess they can and do, but I also don't know all the steps they have to go through to make a legal decommissioning of a chip run.

Quote: DrawingDead

I think there is. I think I've seen this... ...sometime for something somewhere, but can't remember specific details and have nothing to cite to back up what I partly remember of what think I've seen. In one instance, I think I may have run into something like that related to the IP being rebranded as Quad, before becoming re-re-branded and emerging from rehab (but continuously owned & operated by the same Chaesey Empire) as Link or Linq or Linque or whatever da fork it is this week.

What you saw was this:

Quote: Nevada Gaming Regulations

12.070 Redemption and disposal of discontinued chips and tokens.
1. A licensee that permanently removes from use or replaces approved chips or tokens at its gaming establishment, or that ceases operating its gaming establishment whether because of closure or sale of the establishment or any other reason, must prepare a plan for redeeming discontinued chips and tokens that remain outstanding at the time of discontinuance. The licensee must submit the plan in writing to the chairman not later than 30 days before the proposed removal, replacement, sale, or closure, unless the closure or other cause for discontinuance of the chips or tokens cannot reasonably be anticipated, in which event the licensee must submit the plan as soon as reasonably practicable. The chairman may approve the plan or require reasonable modifications as a condition of approval. Upon approval of the plan, the licensee shall implement the plan as approved.

2. In addition to such other reasonable provisions as the chairman may approve or require, the plan must provide for:
(a) Redemption of outstanding, discontinued chips and tokens in accordance with this regulation for at least 120 days after the removal or replacement of the chips or tokens or for at least 120 days after operations cease, as the case may be, or for such longer or shorter period as the chairman may for good cause approve or require;
(b) Redemption of the chips and tokens at the premises of the gaming establishment or at such other location as the chairman may approve;
(c) Publication of notice of the discontinuance of the chips and tokens and of the redemption and the pertinent times and locations in at least two newspapers of general circulation in Nevada at least twice during each week of the redemption period, subject to the chairman’s approval of the form of the notice, the newspapers selected for publication, and the specific days of publication;
(d) Conspicuous posting of the notice described in paragraph (c) at the gaming establishment or other redemption location; and
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman may approve or require.

Quote: beachbumbabs

When I was at the Venetian the last week of May 2014, they had signs at all the cashier windows saying that all their chips must be exchanged for new ones/cash no later than some date in that near future, and the old chips would be non-negotiable after that. So I guess they can and do, but I also don't know all the steps they have to go through to make a legal decommissioning of a chip run.

The Venetian's decommissioned chips appear in the master chip report - and are marked as "120 DAY REDEMPTION - DESTRUCTION PENDING". (The Rainbow Club in Henderson's chips are marked, "REDEMPTION OF CHIPS AFTER PIT CLOSURE.") This leads me to believe that the ones not marked, including the Gold Coast ones at the top of the thread, are still good.