Provided you do not treat casino chips as a currency outside the casino, you are allowed to sell them under Federal law. Generally, this means you cannot sell your chips until they have fallen out of circulation and have no value and cannot be exchanged for cash at issuing the casino’s cashier.
Are old casino chips valuable?
Some chips are considered high-value and have a listed value as high as $50,000. During their 2014 convention, a $5 chip from the Golden Goose SOLD for $75,000, and a $5 chip from the Lucky Casino SOLD for $52,500.
Can you buy used casino chips?
Under Regulation 12, casino chips can now only be used as a cash substitute during the game itself and not as currency away from the gambling tables. When players cash in their chips, cashiers are required to ask the player for his or her card as proof that these chips were earned during the game.
How do I sell old casino chips?
If you’re looking for a quick buck, a reliable option is to take your collector’s chips to a pawn shop. If possible, chose a reputable business near casinos who are likely to be knowledgeable about vintage casino chips. In doing so, you will find a broker who will be more willing to buy from you.
Are casino chips collectible?
For these reasons, vintage chips won or bought at a casino are rare and highly collectible, particularly ones of higher denominations. Chips from casinos that have gone out of business, like the Playboy Club in Atlantic City or the Dunes in Las Vegas, are most desirable.
Is it illegal to sell casino chips?
I saw a sign Saturday in the Wynn: “Federal law prohibits the use of the casino’s tokens and state law prohibits the use of the casino’s chips outside the establishment for any monetary purpose whatsoever.” As I read it, anyone selling chips/tokens on eBay or elsewhere is breaking federal and/or state law.
How long are casino chips valid?
Re: Do casino chips expire? Every now and then casino’s will redesign their chips, making the old ones worthless. They usually have a 60 – 90 day exchange period. This generally happens mainly to the high denomination chips when theft/fraud/counterfeits are suspected or confirmed (think the Bellagio bandit).
How do you cash in casino chips?
The only way to turn casino chips into cash is to exchange them at a casino, usually the one where you got them.
Are casino tokens worth anything?
Limited-edition casino tokens are among the rarest, which makes them valuable to collectors. Many limited-edition casino tokens bear the images of icons like Marilyn Monroe or Babe Ruth.