Low inventory on $1 chips

Aside from gambling, I have always found it a fun way to remember my trips by purchasing and/or keeping $1 chips from the casinos I visit. Many times if the tables are full or if they do not have the game I am wanting to play open, I will ask a dealer who has an empty table, for a $1 chip. Since my last visit to Vegas was almost 8 years ago, I decided to make sure to visit as many casinos as possible both on the strip/downtown as well as a few of the others in the area. This latest trip, I netted nearly 50 chips to add to my collection started by my father nearly 40 years ago.

How does this have anything to do with the Four Queens? Well, in all my years of doing this (almost 30 years now), this was the first and only time I have ever been told by a casino that they would not sell me a $1 chip. I asked a dealer at a $50 blackjack table (whose table was empty, heck most of the casino was empty) and I was told by him that they were not allowed to sell chips, I went to the cashier and she said the same thing, so frustrated, I went to the pit boss at the only pit operation and he told me that I would have to buy in to get a chip. Now, dont get me wrong, that is their option, but what if you are a slot player who doesnt play table games, but likes to collect chips then what? Plus, the arrogance of the pit boss, something that doesnt come across on the written word here, was something I had never experienced in Vegas before, the "I dont care" attitude that has become a little more common nowadays.

I ended up buying $6 in chips at the Roulette table, put $5 on red and won and kept the other $1 chip and cashed in the $10. We actually came into the 4Q to eat lunch, ended up being so irritated by this, that I left and we ate lunch elsewhere. Later, went to Binions and when cashing in a $400 slot win at the casino cage and happily being sold a $1 chip there, was told that they had heard the four queens was running low on $1 chips and were being told not to sell any of them. This may or may not have been the case, but if it was, why not just say that instead of the attitude driven responses?

Next time, just sit down, buy in with $101 and leave. Don't even place a bet.

If it's true the 4Q is running short on $1 chips, then that would have to be pure profit for them. They received $1 cash for each, and never had to redeem it. I can't quite see the problem.

Is it possible they're paying more than $1 per chip to the manufacturer? That would seem very high.

Sometimes casinos get memos... you know, idiotic ones. That could be the reason or it could be some temporary situation though selling one lousy momento chip ain't gonna make no difference nohow.

One woman asked a craps dealer at a slow table as she walked by for a momento chip and handed him a dollar. he gave her a nice clean almost new one and took teh dollar by hand without dropping it on the felt. Its just one lousy dollar, no one minds.

I don't collect momento chips. I do like some 'memory aids' from time to time such as pens, magnetic paper clips, etc. And of course there are always those darned sun visors that I never remember to keep in the car and use them when I need them.

Quote: beachbumbabs

If it's true the 4Q is running short on $1 chips, then that would have to be pure profit for them. They received $1 cash for each, and never had to redeem it. I can't quite see the problem.

Is it possible they're paying more than $1 per chip to the manufacturer? That would seem very high.

I have been told before that casino chips cost $1.29. Not sure if that is true.

Quote: GWAE

I have been told before that casino chips cost $1.29. Not sure if that is true.

if true, for that to be circulating around shows the power of the bean-counter.

not just the power, but the foolishness - a tiny few want souvenirs, but of those 100% leave with a bad taste in their mouths when told crap like this and tell 100 people about it.

Quote: odiousgambit

if true, for that to be circulating around shows the power of the bean-counter.

not just the power, but the foolishness - a tiny few want souvenirs, but of those 100% leave with a bad taste in their mouths when told crap like this and tell 100 people about it.

I do know those chips are expensive. My guess is they cost .80 each but some casinos have rfid in their $1 chips as well. I could see those ones going over the $1 mark.

You gotta figure they lose money on $1 souvenirs if you factor in the time it takes for reordering and such. There is a reason they put special $5 chips out, they probably make $4 everytime one of those walks out the door.

Yet you bought a chip for $1. It was just harder than just buying in for only $1 because of bureaucracy. They must go through a lot for there to be such a policy, but maybe not. Dont gaming regs say chips are not currency, chips are for gambling only? I believe so.

Quote: mtcards

....casino...would not sell me a $1 chip...

You've probably been lucky up to then. Many years ago I went round all the casinos and tried to get $1 chips (and 50c, 2.50's) Eventually I found it easier to buy in at Craps and place the 6 for $6, that way I also had four to pick from. BJ dealer's seemed happy to sell me $2.50 chips. I think most 50c and lower chips were easy to ask for or I just played roulette for a while. During the quiet times it did seem easier to just buy them.

I remember one casino outside Las Vegas I had to play poker to get any chips as the gaming tables were closed, so bought in for $20. With a hidden pair I flopped trips and the shill tried to raise me out of the game. So I only played that one hand, got up (to their dismay) and walked out.

I just did a quick Google search for custom casino chips. Prices start about $.30-$.40 a piece, and that's just for regular schmoes like us buying a couple hundred chips at a time. I can only imagine that a casino buying thousands of chips at a time would get a much better deal than that, probably $.20 a piece or less.

Quote: TigerWu

I just did a quick Google search for custom casino chips. Prices start about $.30-$.40 a piece, and that's just for regular schmoes like us buying a couple hundred chips at a time. I can only imagine that a casino buying thousands of chips at a time would get a much better deal than that, probably $.20 a piece or less.

Are they the same paulson clay type chips?

Quote: charliepatrick

You've probably been lucky up to then. Many years ago I went round all the casinos and tried to get $1 chips (and 50c, 2.50's) Eventually I found it easier to buy in at Craps and place the 6 for $6, that way I also had four to pick from. BJ dealer's seemed happy to sell me $2.50 chips. I think most 50c and lower chips were easy to ask for or I just played roulette for a while. During the quiet times it did seem easier to just buy them.

I remember one casino outside Las Vegas I had to play poker to get any chips as the gaming tables were closed, so bought in for $20. With a hidden pair I flopped trips and the shill tried to raise me out of the game. So I only played that one hand, got up (to their dismay) and walked out.

I have also had a ton of problems just buying a chip. Now I don't even try. I have 4 methods. 1. Go to open table, throw $2 down and ask for 1 chip, other is their tip. I feel if I make them work then I should pay them. 2. Go to busy craps table and buy in for odd amount like 44 and just walk away after a point when dealer is paying. 3. Go to poker room and buy 60 or 100 and ask for 10 white and then take chips to regular cashier and cash them in, or 4. If I see a waitress with chips and I will buy a $1 for $2. Sometimes it takes me a little effort but I am ok with it.

Quote: GWAE

Are they the same paulson clay type chips?

Okay, disregard my post. Turns out casino quality Paulson chips are apparently a lot more expensive, even in bulk. I would still think a major casino would get SOME kind of deal, though.

It's somewhere in the chip thread I believe but I'm not willing to go find it. Paulson chips for casinos cost about $.45 each. They make money every time one doesn't come back.

I understand casinos still have to keep a dollar in their vault for every dollar chip out walking around, so there's some cost to tying up their cash. I don't know how long they have to wait before they can write it off.

The walkaways also screw up the hold numbers.

I believe it's against gaming regulations to sell them.

Quote: DJTeddyBear

I believe it's against gaming regulations to sell them.

I'm not sure but I certainly agree that its foolish to make it difficult. Someone wants a momento... give it to them. Let them have good memories and narrate their home movies in good spirits.

Chips are of various quality and the new rfid chips will probably be expensive though I have no idea if one dollar chips will have tags even in casinos that use them. Seems like overkill to do live tracking of a one dollar chip.

Strange feel of chips have prompted counterfeiting inquiries.

Some chips are audited by a BOX of chips but not examined individually. Bad practice.

If $1 chips are expensive and they don't want them, they should at least give dealers a stack of $1 bills for change. It's frustrating going to the table with a wallet of $20's, buying in and only getting $5's from the dealer, then needing to tip a waitress $1.

I recall...my last visit to Caesars Palace they used slot tokens for $1.usd. Didn't have one dollar chips?

Quote: Ayecarumba

I understand casinos still have to keep a dollar in their vault for every dollar chip out walking around, so there's some cost to tying up their cash. I don't know how long they have to wait before they can write it off.

The walkaways also screw up the hold numbers.

Small casino's do reserve cash for "missing chips" of all denominations. Writing it "off" is really writing it in as in the win/profit. I don't know how the big boys play with the numbers as they don't seem to fill/empty the table bank every day. Perhaps they do it once a week?

Quote: NokTang

I recall...my last visit to Caesars Palace they used slot tokens for $1.usd. Didn't have one dollar chips?

How long ago was that? Back in 2012 when I posted about Caesars Palace in the Casino Chip of the Day thread, I noted that I had received/kept a $1 token at the craps table the first time I played there. About that day, I said:

Quote: Doc

When I cashed in at the cage, I asked whether they ever used $1 clay chips. The cashier said that they had them in the poker room, and she had heard that they might put them back out on the main floor soon. I returned to Caesars Palace to play craps on a subsequent visit to Las Vegas and did acquire a clay chip that time.

In that post, I included images of both the token and the clay chip. I suppose the comment that "they might put them back out on the main floor" could suggest a recurring issue.

Quote: Doc

How long ago was that?

It was prior to 2012. Thank you for the clarification.

Quote: NokTang

... they don't seem to fill/empty the table bank every day. Perhaps they do it once a week?

I often find myself as the first player at a table game the casino is just then opening (usually because the noon shift arrives). One time the chips in the just-unlocked tray were badly in need of a fill for low-denomination chips.

I suggested the pit should have remedied the problem overnight. The Suit said that his casino never adjusts the chips in the tray except during actual play when the dealer, the Suit, and security are present to participate. He said the ending count must always match the next day's start count.

Of course, this was in Biloxi. Other places may do it differently. (Maybe I'll ask this question of several Biloxi casinos on my next gambling trip.)

At a craps table there is often a locked clear plastic (lucite?) container over the chip bank, dice bowl and stick.

Fills are done during a halt in live play and feature suits, security, some paperwork and a good bit of math as they inventory the bank, the dealers stacks, etc. Initial inspection of the dice and the little slip of paper listing the dice serial numbers is usually done on the morning shift.

BJ tables often come out with a removable tray that is pre-filled.

Casinos bank games at various rates. The Venetian banked its craps tables very high even during the really challenging financial timess.

Quote: LuckyPhow

... The Suit said that his casino never adjusts the chips in the tray except during actual play when the dealer, the Suit, and security are present to participate. ...

That makes perfect sense to me. After all, rather than having people do inventories of chips at closed tables and adjusting the stock, do it during the regular shift, when the required people are already on the job.

On the other hand....

I once took a day gambling cruise out of South Carolina. I was in the poker room, which was on a different deck than the table games and cage. When our dealer asked for more $1 chips, the floorperson went to one of the closed tables, lifted the canvas that was covering the entire table, lifted the lid on the bank (it was NOT locked!), grabbed a handful of white chips, and put them in our table's bank, without counting!

I suspect there was no regulatory oversight on that cruise. I also suspect there ARE regulations for the land casinos that would prevent that sort of thing, as well as the overnight fill you're suggesting.

Actually, the current price of chips from GPI is about $1.10 each, based on quantity and security features. That still would not stop me from selling all the $1 chips that anyone could possibly want.

Quote: NokTang

I don't know how the big boys play with the numbers as they don't seem to fill/empty the table bank every day. Perhaps they do it once a week?

I can't speak to the "big boys", but I assume they do something similar to this. In WA, table banks are filled precisely to an "Imprest" level right before closing for the purposes of accounting. This can be done every night, once a week, end of the month, whatever your internal controls want to say. On non-imprest nights, the table can be closed at any level the pit boss wants.

I think custom made casino chips, without an RFID chip inside the chip, cost around 80 cents each to buy in bulk. This comes from a source at the Wynn, but he didn't seem very sure.