Casino Cost of a 1$ Chip (3 Viewers)

[Vice]

I'm a single chip collector and started out about 20 years ago harvesting a 1$ chip from every casino I went to. I eventually discovered eBay and it was off to the races and I have a very nice collection. In the last six months I found PCF and had NO idea folks collected sets of chips. (You guys are crazy!)

When harvesting single chips, mostly $1's and $5's I have never had a problem. I didn't ask for racks but I always assumed they were making a profit so they didn't care.

Anyway, anyone have an idea on how much a $1 chip costs a casino? I know the higher denomination with security features are probably expensive but for 1's 5's and 25's I wonder what the price is.

I'm going to Vegas in a couple of weeks and think I'm going to harvest a rack. Hopefully, from Caesars Poker Room.

 

[Shaggy]

I've gathered from various discussions that a reasonable price per chip is $1.20 (Paulson with spots) to $1.60 (Bud Jones).

I think this is why most commemorative chips in casinos are $5 chips. Special event etc. Automatic profit of $3+ for each chip that walks out of the casino.

 

[Lemonzest]

When I was trying to harvest from Ballys a few weeks ago the poker room manager said the chips cost about 1/ea so they didn't want me taking all their 1s. He said he was fine with me taking as many 5s as I wanted.

Also if you go to Caesers poker room I recommend trying to buy a rack of 1s from the poker room cage. They will sell them to you as long as you are playing poker. That was my experience anyway.

 

[ADS Aviator]

When I was trying to harvest from Ballys a few weeks ago the poker room manager said the chips cost about 1/ea so they didn't want me taking all their 1s. He said he was fine with me taking as many 5s as I wanted.

Also if you go to Caesers poker room I recommend trying to buy a rack of 1s from the poker room cage. They will sell them to you as long as you are playing poker. That was my experience anyway.

How did you feel about the quality of chips at the CP poker room cage? Seems like the easiest way to harvest, but due to the constant suffling, these would be "pretty worn." I'm also going in a couple of week and was going to try to pick up a couple of racks of $1 & $2s.

 

[AWenger]

In the last six months I found PCF and had NO idea folks collected sets of chips. (You guys are crazy!)

Ha...reminded me of this thread: https://www.pokerchipforum.com/threads/and-people-think-were-crazy.14514/

Anyway, welcome! And good luck on your first ever rack harvest. Of the chips I've harvested, I tend to harvest them while playing poker, and picking out the chips I want in best condition. If playing $1/2 NL, I'd either ask for way more $1s when I buy in at the cage, or, on occasion, I've sat down at a $2/$4 limit game (at Flamingo, Bally's, and Golden Nugget) or an Omaha/8 game at Venetian. Side note, I often wanted to cut my wrists sitting playing limit with nitty players, but at a couple games at Flamingo and Bally's there were a couple action players, who often raised, and reraised to the cap preflop, and that was a little different.

I've seen that many of the larger casinos in Vegas seem to replenish their supply of new chips. I've seen limit games at Bally's and Venetian where some players had practically brand new racks of $1s, and one game at Golden Nugget, the dealer was provided with mint chips straight from a Paulson white cardboard box to fill his tray. (That was a long time ago, before I developed a hardcore crazy problem -- I only harvested a barrel of those).

 

[Lemonzest]

How did you feel about the quality of chips at the CP poker room cage? Seems like the easiest way to harvest, but due to the constant suffling, these would be "pretty worn." I'm also going in a couple of week and was going to try to pick up a couple of racks of $1 & $2s.

Condition of Caeser's chips is actually pretty good. The house mold they have holds up well over time. Harvest 2 or 3 racks then take them back to your room and sort through them. If you have 2 or 3 racks you can sort them and make 1 good rack from that. Then just return all the other chips you don't want to keep. I bought 2 racks and from that made 1 good rack that I was happy with.

Also be careful about inlay size. Most of them are small inlay but there are several large inlay still floating around in circulation.

The $2 chips are definitely more beat up and seemed older. The $2 chips are only found in the poker room.

 

[Lemonzest]

chips I got from the poker room cage a few weeks ago:

 

[bivey]

Harder to harvest large inlay Caesars in good condition. Taking me forever.

 

[TheOctagon]

Caesar’s $2s are the best. If you can snag a barrel of decent quality, you’ll be really happy.

 

[Darson]

I don't have any hard data so will postulate!

- GPI promo chips are selling for <$1 which includes the re-seller's mark-up.
- What price were paulson home market chips selling for when they were available? Around $1.20 a chip? This would give some more indication and also would include the re-seller's mark-up.

I would guess something around 50-60c a chip for the huge volumes that large casinos buy. Maybe less, maybe more. Since Paulson now have an effective monopoly on clay chips, they can charge what they want.

 

[BGinGA]

Way low estimate. Typical base price is 90c to $1.20 per depending on spots, inlay, hot-stamp quantity, etc., and doesn't include art fees, packing, shipping, and other costs.

 

[Darson]

Way low estimate. Typical base price is 90c to $1.20 per depending on spots, inlay, hot-stamp quantity, etc., and doesn't include art fees, packing, shipping, and other costs.

Based on the * chip invoices?

As I said, I have no hard data, I just find it hard to believe they are selling promo chips in small volume at $1 a chip yet charge more to a casino who are likely buying these in the millions. Of course, they can charge what they like... Maybe they need to charge this much to cover the cost of all the companies they acquired to get their monopoly!

 

[BGinGA]

The gemaco promo chips cost less to produce.

 

[Lemonzest]

Harder to harvest large inlay Caesars in good condition. Taking me forever.

I bought 2 racks and only found about 4 or 5 large inlay chips. If that is the ratio of large inlay in circulation sounds like a long term project!

 

[allforcharity]

Based on the * chip invoices?

Probably, yes. The invoice details on the Star chips exist, and breakdown each chip, set, and quantity by their composition and complexity. They should be quite typical of other casino final costs given roughly the same quality and quantity of chips.

Having said that, I don't think they lose very much money if they let a rack of 1's out the door. They positively rake on 5's and above, though.
If they forced harvesters to buy a half-barrel of 5's with every rack of 1's they take, they'd probably still make a small profit.