[tikipirate]

I'm sure everyone had heard the Sands in Atlantic City is going to be demolished. The last time I was in town I picked up a couple chips as keepsakes, and now I'm glad I did. My question is what is the market like for chips from defunt/destroyed casinos? Is it worth going back to AC to get more? Any thoughts or info would be appreciated.

[Capstone]

Just thinking out loud...

I would imagine there are a few factors..

1. Importance of the Casino to Gambling History and the town it occupies
2. The design quality of the Chips
3. The scarcity of the Chips (multiple sets) or limited/dated/numbered editions
4. The Age of the Casino itself
5. The quantities of the chips that end up on the open market.
(sometimes having a playable sets ala Vinyard, make them much more desirable and thus more valuable per chip)
6. Are the Chips *punched* before they are obtained.

If the casino has already closed it's doors, then I'll bet the chips are long gone, either destroyed or sold in massive bulk sales to very inside wholesalers/collectors that have the means to buy up hundreds of thousands and save the casino the hassle of disposing of them otherwise.

If they are still open, it may be business as usual and the only way to get them is at face value like the rest. I would imagine that employees are on the short list to possibly receive chips if they desire them but you'd really have to know someone way up high in the organization otherwise to get your hands on any qty's of these chips expecially the higher denom chips in good condition after the doors close for the last time.

Capstone

[Gaming Ore]

Tiki...

First off, Welcome to ChipTalk! Be carefull, you may never leave!!

Your question is a very good one, as it has been asked and answered here previously, but instead of sending you off on an archice search, I'll try to answer here, albeit briefly.....

Atlantic City casinos are different that most other casinos around the World. New Jersey Gaming Laws/Regulations require that all casinos post a bond (or deposits) to a certain level so that if they ever go out of business or close willingly, the chips from that casino can always be turned in for face value.

So, Atlantic City chips will never drop below face value and to make certain that chips do not re-surface after being redeemed this way, Gaming requires monitored destructions.

So, surviving Atlantic City chips will always hold a certain minimum value (face value). For their value to increase beyond that, the demand needs to exceed the supply and for the lower denominations, that is unlikely, as the collectors have already snatched up many first quality Sands chips (when they were first released) and now many reasonable quality chips will be leaving the casino in droves.

Unless a Sands chip already has extreme value, it would be my guess that the current issue of chips from the Sands will not realize a significant value increase for the next 25 years! If any do, it will only be the higher value chips ($100 and up).

This is based on supply. If we look at demand, values can certainly go up if the collector arena esculates to the same levels as other collectible specialties.

I hope this answers your question and again, Welcome to ChipTalk.net!

Jim (Gaming Ore) Follis

[tikipirate]

Gaming Ore

That's fascinating about the NJ law. I had no idea

I think I may pick up a few just for sentimental reasons but dosen't sound like this is a gold mine (though a Sands Poker Chip Set Would be awesome!)

Thanks All!

[Capstone]

I just learned an interesting fact as well. Thanks Jim

Originally Posted by Gaming Ore

Atlantic City casinos are different that most other casinos around the World. New Jersey Gaming Laws/Regulations require that all casinos post a bond (or deposits) to a certain level so that if they ever go out of business or close willingly, the chips from that casino can always be turned in for face value.
Jim (Gaming Ore) Follis