[Murf]

Originally Posted by Gaming Ore

The following is applicable in Nevada. Other gaming jurisdictions may have other rules.

Possession of a gaming chip does not mean that the casino has to honor it. For example, if a player drops a black ($100) onto the casino floor and you are spotted picking it up and trying to play it or cash it in, the casino does not have to honor the bet or cash it in and if they choose, they can simply take the chip! This is covered under Nevada Gaming Regulations where it is stated that chips are the possession of the casino. Even though you exchange money (or credit) for the chips, they still own them. If you visit a Nevada casino, they all have a little sign (near the entrance) that says the casino owns the chips.

Although a $100 chip will likely not be challenged, lets look at a high denomination chip, say a $500. To most any casino, a $500 chip (or above) represents a fair amount of funds and the casino management will know when $500 chips are in-use and how many are out. When the player goes to turn them in the cage personnel, if in-doubt , can challenge the player as to where he/she got them, or, they can double-check with the pit if any $500's were played out.

If for any reason the cage (or surveillance) suspects the holder of the chip is not the rightful person to have it, then the transaction can go into dispute. And yes, this does happen. Becky Binion did it to Stupak over 100's of 1,000's of dollars in large denomination chips. But Stupak could prove that he won the chips in play at the poker games at the Horseshoe.

Anyway, my point here is that very high denomination chips tend not to leave a casino by a chip collector for purposes of scanning it and then coming back to cash it in. There is no absolute assurance that the casino will accept the chip for cash in! The chip collecting community has a collector that specializes in getting $100 and $500 chips, just to scan and catalogue the chip. He could do a $1,000 chip, but is afraid of the possible loss.

Jim Follis

Jim, thanks for the information. Glad to see big time chip-expertice around here... your contributions are appriciated, atleast by me. Out of curiousity, does this collector have a website or somewhere I can check out the chips he has scanned? $500 chips aren't the most common of things, and I'd like to have a look.

[Gaming Ore]

Originally Posted by Murf

Jim, thanks for the information. Glad to see big time chip-expertice around here... your contributions are appriciated, atleast by me. Out of curiousity, does this collector have a website or somewhere I can check out the chips he has scanned? $500 chips aren't the most common of things, and I'd like to have a look.

His name is Paul and his website is Silver State Treasures (Nevada only). Here is the URL: http://www.silver-state-treasures.com/ His site has been referenced here before.

Thank you for the at-a-boy. I should also point out that since many of you are familiar with Chipco, Chipco has a page on their website that they devote to collectors. They make an effort to display artwork when a casino gives permission. The other companies only provide the artwork to the casinos and/or the gaming jurisdiction.

Jim Follis

[SpeakEasy]

Originally Posted by duma

i would suggest bringing a digital camera with you to the casino. obtain the high value chip, then go someone still on casino property, take a few pictures, and then promptly return the chip for face value.

It went something like this. I cashed in a tournament at the Bellagio. Had my digital camera with me (also a handy case for wallet and other stuff). Payout is initially in chips, took digital pictures in the adjacent sports book, then cashed in the chips. No questions asked, no one noticed -- everyone is busy gambling or watching the gamblers.

On a security note, when I cashed in the chips, they took my name, height, weight, photo ID check. They track big payouts.

[dad604]

I though, you, being a hard core chip junkie would keep one of each chip for your collection.

[PocketRocket]

He's got enough there to send each of his kids to Vegas so that they can earn their own!

Originally Posted by dad604

I though, you, being a hard core chip junkie would keep one of each chip for your collection.

[SpeakEasy]

Some others...