Today, I contacted ASM in Las Vegas about creating a new "Second Issue" $1 chip for the Key West Resort and Casino. If my plan for the chip comes to fruition, it will be unlike any other chip on the home market: It will sell for a fixed amount over face value, and remain redeemable for face value, from Continental Card & Game Company.
The new "Second Issue" $1 Key West chip is slated for production in 2014. Here's a picture:
The new "2nd Issue" $1 chip prototype using an Imperial Blue 312 with Yellow spots and a $1 inlay.
The chip will be Imperial Blue and Yellow, and will be the same color as the spot in the $5 chip. It will play well with the gray quarter and the $5 chips, maybe even better than the current white $1.
If plans for this chip work out and there is enough interest, I would like to make this chip permanently redeemable, from my company, at face value. Brand new face -value $1 chips would probably not be sold for face value, but for some fixed amount above face. Since it will remain worth its face value, it could be sold to another member or cashed with the Key West for face at any time. (No classified ad or price cutting needed.) Used Second Issue $1 chips would then be re-sold on the Key West site for face value.
It would, of course, be followed some time next year with a Second Issue $5 chip sold at face value, which is where the company would make a small profit, as some of them would go to collectors and never be cashed.
Please let me know your thoughts on this.
The new "Second Issue" $1 Key West chip is slated for production in 2014. Here's a picture:
The new "2nd Issue" $1 chip prototype using an Imperial Blue 312 with Yellow spots and a $1 inlay.
If plans for this chip work out and there is enough interest, I would like to make this chip permanently redeemable, from my company, at face value. Brand new face -value $1 chips would probably not be sold for face value, but for some fixed amount above face. Since it will remain worth its face value, it could be sold to another member or cashed with the Key West for face at any time. (No classified ad or price cutting needed.) Used Second Issue $1 chips would then be re-sold on the Key West site for face value.
It would, of course, be followed some time next year with a Second Issue $5 chip sold at face value, which is where the company would make a small profit, as some of them would go to collectors and never be cashed.
Please let me know your thoughts on this.
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