Basic question/new member experience related to pricing for casino/collector chips (1 Viewer)

[jonstanley2009]

Ayo,
Been a blast so far. Spent a fair amount of time researching/going through PCF posts/other resources:

Had a few nub a dub questions:​

1. "TCR" - After an hour, I got the point of what people were saying. After another hour, I realized it related to a book/guide for pricing.
   1. Solution for other new members: add to glossary? Wasn't there last I checked
      
      
   2. Question: What's the price to obtain TCR 21' edition: http://www.thechiprack.com/
      1. Obviously, it can be obtain via "book" for a small payment of $70-80$ , but it seems that you can access it online:
         
         
      2. However, the "visual" version, just leads to the normal "chip guide" page, however, can't find anything related to "price of chip" other than a small reference about "membership features".
      3. Or, is there a visual version for $25pm (not sure what pm's are lol) as shown in the screenshot?
         
2. Question "Official US Casino Chip Price Guide" s
   1. When people reference TCR, does this compare to OUCCPG or do both books have the same information/prices (relative to edition/date of release)
   2. Is one better than the other?
   3. Random question- what is GD30, VF65, CS95 (what does it stand for)? Seems like OUCCPG uses this for Reno Casino's vs Average, Slightly used, or New?
      
      
3. Thoughts What do you do to stay up to date with chip prices?
   1. Shell out 80$ every year or with every new edition?
   2. Don't use them? Prices are too variable based upon 'hype' and 'trends'?
   3. Other...?

Of course, TCR debates are in another forums/post. This is just general information/questions for the nubs

 

[Gear]

I believe "TCR" in most contexts around here means The Chip Room, not the Chip Rack.

Also, basically no one around here uses the Chip Rack for pricing information.

EDIT: At least, not for relatively common or available chips, or chips in playable quantities.

 

[Marius L]

Thechiprack is used more by singles collectors on www.thechipboard.com

Here on PCF 99% of mentions of TCR is referring to the vendor called @TheChipRoom who is the most important chip vendor around. He's brought millions of casino chips to chippers hands over the years.

 

[jonstanley2009]

If this is the case, where do people get the "TCR" or Chip Room values? Are people scanning through the past vendor sales, comparing quality/quantity, and seeing what it was sold for? Unless it was that exact chip he sold to them, not sure how the price is figured?

 

[Marius L]

Yes. And just recently there's been a few sales, so when people resell the chips they will often say "at original TCR pricing" or something like that.

The reason people are reselling at cost soon after receiving their chips is because TCR (thechiproom) has some percentage-rules in place when buying chips in his sales. This is to make sure he sells out most of his stock, and not only sells the in demand denominations.

Example:

I believe many people wanted the secondary $2.5 chips from this recent sale. However since it could only be 10% of a total order, that means to buy a full rack you'd have to buy at least 900 other chips as well. Now, some people bought chips simply to meet the requirements and are looking to sell whatever they dont really need afterwards. Usually they will then write in their ad: "at TCR price".

 

[bernielomax]

My understanding is that Jim @TheChipRoom sets the prices for each chip room sale individually dependent on market conditions, quality and quantity of chips, etc. I am sure he has some sort of formula/secret sauce.

The sale price of the chips sold by @TheChipRoom may or may not be the true value. The open market determines the value. For example, several of the Lake Elsinore chips have sold in the PCF classifieds for more than The Chip Room price two weeks after the auction.

So in this situation "value and "sale price" may be different.

 

[upNdown]

If this is the case, where do people get the "TCR" or Chip Room values? Are people scanning through the past vendor sales, comparing quality/quantity, and seeing what it was sold for? Unless it was that exact chip he sold to them, not sure how the price is figured?

It’s the Wild West. There are no accurate pricing guides. Past sales are one indicator, but the market rises and falls.
As stupid as it sounds, chips are worth exactly what somebody is willing to pay for them.

 

[jonstanley2009]

Ok, that makes a lot of sense. Same $ amount of what it was when vendor sold it. I guess I'll need to check back on some of the places I saw "TCR" to see if people are selling chips purchased from vendor or if selling "similar" chips. Not sure if one or both are acceptable when using the term "TCR" in sales post.

 

[doublebooyah85]

Don’t look at any of my sales/purchases for market pricing. I historically overpay.

 

[Marius L]

So in this situation "value and "sale price" may be different.

Very much this.

Market value of the chips are usually figured out after the initional offering by TCR. TCR prices his chips not only based on what he believes the chips would sell for individually, but in a way that he can sell out all of his stock in a short time. (Like i mentioned above with percentage rules and several hundred thousand chips that needs to go in a short time frame.) Usually that means that he tries to sell at just under market to make it feel like good value for the buyers, and make people buy more than they need and resell later.

It also means that some chips will be worth more after a sale, and others might be worth less than the initial TCR price.

If someone sells aftermarket chips "at TCR pricing" it usually means they are not worth anything more. (Might be less depending on if they actually sell or not), or once in a blue moon one of PCFs great members will simply a offer a good deal by selling under market and offering chips (that are really worth more) at TCR price. The latter is rare. The former is just used as a marketing trick, imo.

 

[Eriks]

What’s the question here really? What chips are worth? TCR chips specifically?

Whatever people wanna pay is the answer. Best we got is an estimate based on past sales. If one wants max value out of a sale, just do an auction or list at some absurd price and work your way down until someone buys.

 

[jonstanley2009]

In short, I just wanted to know what people were talking about. Seemed there was information I wasn't aware of and wanted to know for my own finds outside of PCF

 

[upNdown]

If someone sells aftermarket chips "at TCR pricing" it usually means they are not worth anything more. (Might be less depending on if they actually sell or not), or once in a blue moon one of PCFs great members will simply a offer a good deal by selling under market and offering chips (that are really worth more) at TCR price. The latter is rare. The former is just used as a marketing trick, imo.

And if somebody has an auction listed as TCR price start, they are so full of shit they will invariably have brown eyes.

 

[jonstanley2009]

And if somebody has an auction listed as TCR price start, they are so full of shit they will invariably have brown eyes.

 

[Okku]

I'll be honest about TCR book. I have an old old version of it that I barely use. I'd much rather use the actual market to figure out what chips are worth or what they have been worth. Sure, using the book to figure out what a rare chip sells for or could sell for is useful if you can't find one ever sold online. That's happened a few times with me, but not often. Some of the rare chips are sold via auctions or auciton houses that only post the realized chip prices on their website and they aren't shared across the internet. Another thing would be the ChipChat auctions (which I'm not sure how many people know about those) but the same thing with them. Most of the time the realized prices are only posted on TheChipBoard.

So in conclusion, do I think its worth to buy a new ChipRack every year? Probably not.

Its a useful thing to have, but how often are you really going to use it.