• Are Old Casino Chips Worth Money
• Are Poker Chips Worth Money
• How Much Are Casino Chips Worth

Chips are the currency of casinos and poker games around the world. Walk into any brick-and-mortar casino and you’ll see more than a few chips. Even the sound they make as they clink together is as timeless as the bright lights of the Vegas Strip.

With no casino logo on it its more than likely on of the chips that people buy in a gift shop for about $10 also it wouldn't be green because green is known as the $25 chip 1 0. At Paris Las Vegas you can bet $100,000 with one casino chip, the highest value offered, & up to $200,000 on a single hand of baccarat. Learn more here.

There’s a lot of money in Vegas, but it all starts with those little round chips you see circulating the casino floor. So why do casinos use chips instead of cash? At first, you’d think it would be easier to deal with cold, hard cash. There would be no need to constantly cash in and cash out. The casino wouldn’t have to hire cashiers simply to exchange chips for cash. Things would run easier, wouldn’t they?

Well, casinos use chips for a few reasons, and it’s not just tradition. Let’s take a look.

1. Psychology

The primary reason casinos prefer chips over cash is because chips add a little mental separation between the gambler and his valuable money. It’s a little easier for you, the gambler, to place a big bet because it’s just chips. Logically, you know what those chips represent. But since it’s not actual cash in your hand, you feel slightly less inhibition towards taking bigger risks.

Basically, it’s a matter of psychology. You can also think about it like this. If you wanted to place a $500 bet on blackjack and all you had was cash, you would have to sit there and count out the currency. It might be twenty-five $20 bills or a small wad of fresh, crisp hundred dollar bills. It’s very real and it’s staring you in the face. It gives time for what you’re doing to really sink in.

But if you use chips, all you need to do is throw a single, purple chip down on the table. It doesn’t look like much. It’s just a single, lonely chip sitting there in the middle of a green felt sea. All it takes is a second and the money is gone.

2. Security

Chips provide casinos with an extra layer of security. Casinos control those chips and have a number of tricks they can use to discourage or foil those with criminal intent. A few years back, a man parked his motorcycle in the Bellagio’s valet area, ran inside with a gun and robbed a craps table for $1.5 million worth of chips.

The Bellagio noticed that a good portion of the thief’s ill-gotten gains consisted of $25,000 denomination chips. A few days later, the Bellagio announced to the world that it would soon discontinue all of its current $25,000 chips. Those chips would all become worthless after the deadline set by the casino.

This put the thief in the awkward position of having to cash in a lot of valuable chips in a short amount of time. He was later caught trying to sell his chips via the TwoPlusTwo.com poker forums. The “buyer” reported the attempted sale to police and the bandit was later caught.

Are Old Casino Chips Worth Money

Some casinos also add RFID (radio frequency ID) chips to their chips. This allows them to keep track of their high denomination chips and easily detect frauds. If someone comes in with a bunch of clever counterfeits, those chips won’t authenticate and the casino won’t mistakenly cash out a bunch of fake chips.

If a bunch of RFID-enabled chips are stolen, the casino can determine (depending on the circumstances) exactly which chips went missing. The casino can then remove those individual chips from its inventory and render the stolen chips worthless. All the while, no other chips are affected.

3. Convenience

One reason casinos use chips is a simple matter of convenience. In fast moving games, it would be a nightmare to wait for players to fumble around with dollar bills for every single bet. Money gets bent, it doesn’t stack easy, it’s hard to track and it takes up a lot of space.

High stakes games would complicate these matters even further. Just imagine trying to play a game of $4,000/$8,000 fixed limit Holdem with a bunch of hundred dollar bills. It simply wouldn’t work. Chips make things easier for everyone.

4. Data

This last point applies specifically to casinos that use RFID-enabled chips. The vast majority of casinos haven’t gone full RFID on all their chips, but the industry seems to be slowly trending that way. Casinos that use 100% RFID-enable chips can collect vast amounts of data.

RFID chips allow casinos to catch dealer mistakes, to catch players who attempt to sneak in extra chips to the table after betting has closed, to track how chips move around the casino and more. Casinos can use this information to streamline profits, track trends and avoid losing money to crooks.

One day, casinos may even use RFID chips to identify how skilled specific players are. Casinos could then use that information to determine appropriate comps for individual players. Or, they could figure out who the card counters are and encourage them to go play somewhere else.

I live in the Detroit area and know a dude who runs estate sales out in the 'well-to-do' suburbs all the time. Very often these become estate auctions, and I've gotten some incredible bargains.
Today (12-Sep-12015), there is an estate sale, and it will be an auction tomorrow. Up for bidding is :
'Vintage Vegas Casino poker chip collection including approximately 250 poker Casino gambling chips from closed and current casinos ranging from $.50 to $100 chips'
http://www.estatesale.com/sales/view/60018.html#gal
Are these 'collectibles' typically worth the face value, or less or more?

Are these 'collectibles' typically worth the face value, or less or more?

Less than face value.
Once, while travelling, I found a casino that had changed their chips out (and their name) - the old chips were no longer negotiable. They were selling off boxes of low denomination chips (60x $5, 20x $1 - $340 face value) for $10 - about 3% of face value.
IMO, the frames are worth more than the chips, and I wouldn't pay more than $10 a frame. The bare chips are maybe worth another $20.
If you should happen to find a negotiable chip in the mix, this raises its value significantly. If you happen to have a buyer lined up, this too raises the value. This is reasonably cool man cave decor.
Don't expect to make a killing on these.

I live in the Detroit area and know a dude who runs estate sales out in the 'well-to-do' suburbs all the time. Very often these become estate auctions, and I've gotten some incredible bargains.
Today (12-Sep-12015), there is an estate sale, a nd it will be an auction tomorrow. Up for bidding is :
'Vintage Vegas Casino poker chip collection including approximately 250 poker Casino gambling chips from closed and current casinos ranging from $.50 to $100 chips'
http://www.estatesale.com/sales/view/60018.html#gal
Are these 'collectibles' typically worth the face value, or less or more?

I swore off sports memorabilia collecting. I have tons of it in storage. However I do like that pin set.
But I'm interested in casino stuff (not chip's, boring unless you can turn a quick profit)
People are probably going to grab the known sports memorabilia.
Can you get me the Korr's 6 pack? I'll pay up to $60.
That Al Jolson a light up promo sign? I'm interested, I have no clue what is worth but i'm thinking most people may avoid it. The right person would love that.
You might want to research the slot machines and see if there's some value.
I'm interested in some of the casino and Sinatra stuff. Ill work something out with you. PM me.

handmade duck collectibles----- these can be worth a lot and may go for real cheap,guy I worked with carved these in his spare time and was amazing good at it...... some sold for $600 each way back in the 90s
picture 110 the bottle on the left would be nice to have..... contents and vanilla ice cream oh the memories

Detroit is a great place for carpetbaggers right now... I'm getting some stuff for a penny on the dollar. These auctions sometimes let you buy a whole ROOM for like $30... these rooms are often in RICH homes, no shit... imagine going through someone's house and paying $30 for EVERYTHING in a room.
I'm leaving right now, if anyone wants me to make some bids for 'em, call me at 734-469-6308 in the next couple of hours or so, or contact Rick Behar (my pal who runs these sales) at the web site.
There is some AWESOME Vegas stuff here, the Rat-Pack stuff and all. I never got a clear answer about the old chips, but I think I'm willing go pay like maybe up to 20% of face value.. THANKS FOR THE FEEDBACK, EVERYONE!!! MartyF.Y.I., the chips in the frames were about 5x face value.. way too much in my opinion, but I didn't really look what was there. That black artwork of Vegas history was going for $1,400 and some guy was questioning if Sammy Davis Jr.'s signature was authenticated.
That newer slot sold for $500. I bought that older slot machine for $252, but I can't get it to work yet... I think it needs some more dimes to prime the payout chamber.
It looks great, and it weighs a TON. it is an Imperial Crown, built by 'Pacific Manufacturing, L.L.C.' of Japan, I'm guessing around 1960 or so. I only found one Google photo of it and no information, like a MANUAL or specification. I can't find any more info about it yet, but I'm looking...

Are Poker Chips Worth Money

That looked like an exceptional sale. EB, did you get in on any of the Sinatra stuff?
Sounds like your friend is doing something right, to get 5x face value, though I can't claim any expertise on chip collecting.
Out of all of it, the only thing I really craved was that huge Sinatra CD compilation. Did you notice what that went for?

That looked like an exceptional sale. EB, did you get in on any of the Sinatra stuff?
Sounds like your friend is doing something right, to get 5x face value, though I can't claim any expertise on chip collecting.

How Much Are Casino Chips Worth

My friend runs the auctions, he works with the home owner to set the prices and he just gets a straight commission on everything sold, like 10%. Apparently, the owner was big-time into Vegas and sports, and had enough money to buy all the memorabilia he wanted... I think those chip collections were custom done by the owner himself and that's why the prices seem high. Actually, everything was a bit pricey at this sale, but tomorrow should be better bargains.
But, like I was saying to coilman, there are a LOT of estate sales going on right now around here... who can afford health care? SERIOUSLY! This kind of thing is going to be common place VERY soon the way our economy is heading, and the way the medical profession has enslaved us all.

Out of all of it, the only thing I really craved was that huge Sinatra CD compilation. Did you notice what that went for?

I didn't take note, but the sale isn't over until tomorrow, and at that time they may take bids at lower prices just to clear the floor.