A question on Limited edition chips
September 20th, 2020 at 2:56:47 PM
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I just won an auction lot that included dozens of limited edition chips.
Examples would be a Four Queens $5 chip honoring SusanG Comen and is limited to 1,000 chips
Another honors The Year of the Dragon from 2000 and is limited to 500
A third is from June 19,2000 for Excalibers 10th Anniversary.
Does anyone know if these were distributed at gaming tables or did you have to buy them from the cashier.
More importantly, since I paid about fifty cents each for them, are they still valid? Do casinos not honor a $5 chip after time goes by.
Examples would be a Four Queens $5 chip honoring SusanG Comen and is limited to 1,000 chips
Another honors The Year of the Dragon from 2000 and is limited to 500
A third is from June 19,2000 for Excalibers 10th Anniversary.
Does anyone know if these were distributed at gaming tables or did you have to buy them from the cashier.
More importantly, since I paid about fifty cents each for them, are they still valid? Do casinos not honor a $5 chip after time goes by.
The older I get, the better I recall things that never happened
September 20th, 2020 at 4:29:16 PM
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Casinos retire chip series regularly. They post a notice in the LVRJ/LVSUN giving a final redemption date. Cages (used to?) have big books with pictures of valid and retired chips.
September 20th, 2020 at 6:32:44 PM
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Even commemorative chips? That seems like a license to print money.
The older I get, the better I recall things that never happened
September 20th, 2020 at 6:37:18 PM
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I am under my understanding that commemorative chips are part of the same series as the regular chips. Its all in the edge striping. So if they have the same striping as the current regular chips, they're still good.
On the flipside, some commemorative chips, current series or not, can be worth more than face value. At least to a collector.
License to print money? Well, yeah, sorta. They cost far less than face value to manufacture, and casinos make commemorative chips expecting people will take them as souvenirs, so
On the flipside, some commemorative chips, current series or not, can be worth more than face value. At least to a collector.
License to print money? Well, yeah, sorta. They cost far less than face value to manufacture, and casinos make commemorative chips expecting people will take them as souvenirs, so
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
September 20th, 2020 at 6:37:42 PM
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Don't hoard your chips unless you can get the memo that they're no good in 10 days, and you can cash them in in time. Counterfeiters run this game, and so does COVID-19.
September 21st, 2020 at 4:48:44 AM
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Generally you have 120 days to redeem withdrawn chips:Quote: ChumpChangeDon't hoard your chips unless you can get the memo that they're no good in 10 days, and you can cash them in in time. Counterfeiters run this game, and so does COVID-19.
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 Chair
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 Chair 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 Chair 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 Chair 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 Chair 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 Chairs 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 Chair may
approve or require.
(Adopted: 6/87.)
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 Chair
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 Chair 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 Chair 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 Chair 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 Chair 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 Chairs 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 Chair may
approve or require.
(Adopted: 6/87.)
September 21st, 2020 at 10:26:16 AM
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I have known many people that just play the expired chips at the table. Just bury the $5 chip in a stack of other red chips that you bet, Dealers generally do not notice.
At my age, a "Life In Prison" sentence is not much of a deterrent.
September 21st, 2020 at 12:53:36 PM
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You could always use them for tips.
The older I get, the better I recall things that never happened
September 22nd, 2020 at 1:04:30 AM
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