Current Chip Valuation Guide? (1 Viewer)

GreenChip111

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I have been looking for a Chip Price Guide, but have only found the following two on Amazon and both seem outdated

The Official U.S. Casino Chip Price Guide, Fourth Edition - Published 2008

The Chip Rack 13th Edition - 2011

What do Poker Chip Forum members base casino chip valuations on when considering chip purchases?

Thanks in advance for any advice

GC
 

ReallyGoodUsername

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We base them on recent historical purchase and final auction bid prices between forum members. For chips that are available from vendors, there are advertising records for all of those, too.
Depends on if you’re interested in racks/playable sets of chips or singles. For the most part members here aren’t singles collectors so our valuation is sometimes very different than singles collector’s valuations. It even goes so far that sometimes our collecting of playable sets screws up single collector valuations.

Check out thechipboard.com though. I think more up to date ChipGuides are often sold their.
 

FDLmold

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There is only one chip price guide that is kept up to date, The Chip Rack, and it is for NV chips only. They publish a new one every year or two.

The onset of the Internet has made price guides obsolete. I pay based on condition, rarity, and any information I can find on forums and auction websites.
 
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gopherblue

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Oh yes, “book value.” Reminds me of this post I made: https://www.pokerchipforum.com/thre...f-goes-to-vegas-2019.37692/page-7#post-807537, paraphrased below:


Scene: Annual CGGTCCCGTC chip convention, at an “off-strip” casino.

Me: I’m interested in this (non-mint, dirty) New China Club $5. Can you do anything on price?

Old Fotzer: what price is it marked?

Me: $60.

OF: Let me see what the Chip Rack price is...

Me: *winces*

OF (After paging thru ChipRack for five minutes): It says here that in mint condition, this is a [meaningless code] rarity chip, worth $45-50.

Me: This chip is not mint.

OF: It almost stands on edge.

Me:

OF: But I’m offering convention pricing, discounting 20% off market price, so $40.

Me: *facepalm* You’re discounting off the top of the range listed in a book printed a year or so ago that isn’t based on any observable, quantifiable metrics but is basically subjective make-believe pricing that is the opinion of the guide’s author?

OF:

Me:

OF: Yes. This guide cost me $100.

Me:

OF: Make me an offer.

Me: Do you have more than one?

OF: No—that’s an incredibly rare chip, only a few dozen exist.

Me [who owns racks of them]: According to whom?

OF and me, in unison: The Chip Rack guide.

Me: *blinks*

Me: All due respect, and I don’t want to insult you, but I can offer you a price that is based on what this chip actually sells for in the real market, like eBay or at Spinettis. Examples in better condition have sold for $5-12 recently. I’m not sure I can offer more than that, given those are actual market prices. I can offer $10.

OF: No.

Me: What is your best price?

OF: $38.

Me:

OF: But you don’t have to pay shipping.

Me: :banghead:

Me: Have a good convention....

[Next booth, rinse and repeat.]

Later in the day...

OF [scowling and pointing at me to his wife; muttering]: That guy lowballs. Offered me $10 for this NCC $5.

OF’s Wife: But you have dozens of them, and you paid $25 for the whole lot! The house is FULL of boxes of chips! We don’t even have room for the grandkids!

OF: Hey buddy...I could do $35.

[/Scene]
 

Psypher1000

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Reminds me of this post

giphy.gif
 

TheBigTater

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Oh yes, “book value.” Reminds me of this post I made: https://www.pokerchipforum.com/thre...f-goes-to-vegas-2019.37692/page-7#post-807537, paraphrased below:


Scene: Annual CGGTCCCGTC chip convention, at an “off-strip” casino.

Me: I’m interested in this (non-mint, dirty) New China Club $5. Can you do anything on price?

Old Fotzer: what price is it marked?

Me: $60.

OF: Let me see what the Chip Rack price is...

Me: *winces*

OF (After paging thru ChipRack for five minutes): It says here that in mint condition, this is a [meaningless code] rarity chip, worth $45-50.

Me: This chip is not mint.

OF: It almost stands on edge.

Me:

OF: But I’m offering convention pricing, discounting 20% off market price, so $40.

Me: *facepalm* You’re discounting off the top of the range listed in a book printed a year or so ago that isn’t based on any observable, quantifiable metrics but is basically subjective make-believe pricing that is the opinion of the guide’s author?

OF:

Me:

OF: Yes. This guide cost me $100.

Me:

OF: Make me an offer.

Me: Do you have more than one?

OF: No—that’s an incredibly rare chip, only a few dozen exist.

Me [who owns racks of them]: According to whom?

OF and me, in unison: The Chip Rack guide.

Me: *blinks*

Me: All due respect, and I don’t want to insult you, but I can offer you a price that is based on what this chip actually sells for in the real market, like eBay or at Spinettis. Examples in better condition have sold for $5-12 recently. I’m not sure I can offer more than that, given those are actual market prices. I can offer $10.

OF: No.

Me: What is your best price?

OF: $38.

Me:

OF: But you don’t have to pay shipping.

Me: :banghead:

Me: Have a good convention....

[Next booth, rinse and repeat.]

Later in the day...

OF [scowling and pointing at me to his wife; muttering]: That guy lowballs. Offered me $10 for this NCC $5.

OF’s Wife: But you have dozens of them, and you paid $25 for the whole lot! The house is FULL of boxes of chips! We don’t even have room for the grandkids!

OF: Hey buddy...I could do $35.

[/Scene]

This really made me laugh because I've had very similar conversations with many singles collectors over at the chipboard and other places. They always get dumbfounded whenever you ask if they have more than one, like anybody ever buys more than one. :banghead:
 

allforcharity

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This really made me laugh because I've had very similar conversations with many singles collectors over at the chipboard and other places. They always get dumbfounded whenever you ask if they have more than one, like anybody ever buys more than one. :banghead:

God forbid that you actually PLAY POKER with POKER CHIPS.
 

DrStrange

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Chip guides are worse than useless. Buy one because of all the pretty pictures. The numbers and rarity is meaningless.

The single chip market is replete with sharks, scammers and suckers. Almost everything is overpriced. Perhaps not as big a deal for a single chip, but since when do we buy our chips one at a time.

Even ebay auction results aren't so useful. Knowing one buyer once paid $50 for a chip doesn't mean you can get anywhere close to $5,000 for your rack. Well, not in this lifetime anyway. Chips are rarely worth more than a couple of bucks each in bulk. Things that sell for more than $300 / rack are generally well known on this forum. Please don't get fleeced.

DrStrange

PS I have to tell my own war story. I found a guy selling a huge yet unremarkable chip collection. He claims he paid well into five figures for a 2,000+ chip collection framed. Had each chip purchased in a notebook, price, grade rarity. Special deal for me, $20,000. Much lower than the guide pricing.

We discuss the value of the chip guide. Seller doesn't do the interwebs and never looked at ebay. So I bring my Tropicana set to his house, flip to the chip guide and show him racks of "rare, less than 100" chips. Book value something like $50,000 though my cost was ~$3,000. I suggest his collection is worth less than $2,000 with at least half the value being the framing.

In the end I got the set for $2,000 - they are wall art in the poker emporium.

Pron: (sample, there are 25 of these)

 

gopherblue

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Chip guides are worse than useless. Buy one because of all the pretty pictures. The numbers and rarity is meaningless.

The single chip market is replete with sharks, scammers and suckers. Almost everything is overpriced. Perhaps not as big a deal for a single chip, but since when do we buy our chips one at a time.

Even ebay auction results aren't so useful. Knowing one buyer once paid $50 for a chip doesn't mean you can get anywhere close to $5,000 for your rack. Well, not in this lifetime anyway. Chips are rarely worth more than a couple of bucks each in bulk. Things that sell for more than $300 / rack are generally well known on this forum. Please don't get fleeced.

DrStrange

PS I have to tell my own war story. I found a guy selling a huge yet unremarkable chip collection. He claims he paid well into five figures for a 2,000+ chip collection framed. Had each chip purchased in a notebook, price, grade rarity. Special deal for me, $20,000. Much lower than the guide pricing.

We discuss the value of the chip guide. Seller doesn't do the interwebs and never looked at ebay. So I bring my Tropicana set to his house, flip to the chip guide and show him racks of "rare, less than 100" chips. Book value something like $50,000 though my cost was ~$3,000. I suggest his collection is worth less than $2,000 with at least half the value being the framing.

In the end I got the set for $2,000 - they are wall art in the poker emporium.

Pron: (sample, there are 25 of these)

Got any New China Clubs or Riversides in there? :whistle: :whistling:
 

DrStrange

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@gopherblue

Nope, not one TRK chip. Mostly live or just barely cancelled chips. More than a few from chip room sales, though the old guy never heard of the chip room.

I posted the entire collection at the time I way buying it. No one here got even a little excited. It was entirely, ho hum, boring. That was why the group though the collection wasn't worth a buck a chip. But it does make for nifty wall art. And who knows, maybe a few decades will yield a few gems? Or maybe Covid19 will kill some famous venues and make their old chips more worthwhile.

Or maybe not, could be my estate will find it best to send the stuff to the thrift store. . . . . :eek:
 

Poker Zombie

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I do remember the Doc's story. I was still new in chipping and it was an interesting view into a world I was just starting to peer into - the world of singles collecting.

Seeing how radically prices can vary based on seller/buyer, the battle-cry of @BGinGA made all the sence in the world to me:

"A chip is worth whatever the buyer is willing to pay"
 

BoyWonder

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This is a topic I have been thinking about a lot lately. I believe that the average single chip collector is much older than the average "playable set" collector, and this difference in demographics is going to cause an issue for the singles universe. What happens when the older generation starts passing away and these large collections become available? Do prices plummet and possibly create a great buying opportunity? If online poker becomes more widely legal, will there be a 2nd poker boom and a subsequent boom for single chip collectors? Lots of questions and possibilities here, but I think the outlook for the single chip collector is bleak.

As far as actual price guides - they will continue to become obsolete. The same thing happened in the sports cards world once online shopping became more popular. Those that go by "book value" will always be around, but by far the largest determining factor in valuations will be ebay/other recent auction sales.

Personally, I love collecting singles, but I am hesitant to even drop $10 on a single chip if the overall collecting outlook isn't great. The last thing I want is for my wife/children to be stuck with a sizeable yet largely worthless collection of chips once I pass away with no easy way to move them.
 

Chiphuntr

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Chip guides are worse than useless. Buy one because of all the pretty pictures. The numbers and rarity is meaningless.

The single chip market is replete with sharks, scammers and suckers. Almost everything is overpriced. Perhaps not as big a deal for a single chip, but since when do we buy our chips one at a time.

Even ebay auction results aren't so useful. Knowing one buyer once paid $50 for a chip doesn't mean you can get anywhere close to $5,000 for your rack. Well, not in this lifetime anyway. Chips are rarely worth more than a couple of bucks each in bulk. Things that sell for more than $300 / rack are generally well known on this forum. Please don't get fleeced.

DrStrange

PS I have to tell my own war story. I found a guy selling a huge yet unremarkable chip collection. He claims he paid well into five figures for a 2,000+ chip collection framed. Had each chip purchased in a notebook, price, grade rarity. Special deal for me, $20,000. Much lower than the guide pricing.

We discuss the value of the chip guide. Seller doesn't do the interwebs and never looked at ebay. So I bring my Tropicana set to his house, flip to the chip guide and show him racks of "rare, less than 100" chips. Book value something like $50,000 though my cost was ~$3,000. I suggest his collection is worth less than $2,000 with at least half the value being the framing.

In the end I got the set for $2,000 - they are wall art in the poker emporium.

Pron: (sample, there are 25 of these)

So where does one find racks of the same chips?
I started collecting singles, from casinos I’ve been and then continued from there. But I’m finding exactly what you describe, single chips people asking stupid amounts for. These in some cases are sluggers or a quantity of 10 that aren’t even casino chips. Now I’m looking for racks but find ridiculous prices.
 

Poker Zombie

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So where does one find racks of the same chips?
I started collecting singles, from casinos I’ve been and then continued from there. But I’m finding exactly what you describe, single chips people asking stupid amounts for. These in some cases are sluggers or a quantity of 10 that aren’t even casino chips. Now I’m looking for racks but find ridiculous prices.
The classifieds here are the easiest answer to find complete racks or barrels. The vendors here will come up with entire casino's worth of sets too. It will take time, patience, money, and when the price is good, a very quick keyboard.

Some people find sets or racks "in the wild" - ebay, FB Marketplace, Craigslist, etc. Out there prices are going to run amok, from insanely cheap (people dont know the difference between a Paulson and a dice chip), to moronically expensive when the seller sees one chip sell for $20 so they think their rack is worth $2000. It's always caveat emptor, but more so in the wild.
 

Eloe2000

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I am trying to hunt down some chip singles which are not terribly common and I don’t believe have ever been sold here on PCF. For someone like me who has collected just a handful of singles mostly for aesthetics or for PCF history reasons, where can I figure out what is roughly a reasonable price for these specific chips when I come across them one day? Could someone here potentially give me some assistance who understands the singles market?
 

Poker Zombie

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I am trying to hunt down some chip singles which are not terribly common and I don’t believe have ever been sold here on PCF. For someone like me who has collected just a handful of singles mostly for aesthetics or for PCF history reasons, where can I figure out what is roughly a reasonable price for these specific chips when I come across them one day? Could someone here potentially give me some assistance who understands the singles market?
There are some members (I believe @Psypher1000 is one) that belong to the CCGTCC. They are my go to when hunting down singles.
 

upNdown

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I am trying to hunt down some chip singles which are not terribly common and I don’t believe have ever been sold here on PCF. For someone like me who has collected just a handful of singles mostly for aesthetics or for PCF history reasons, where can I figure out what is roughly a reasonable price for these specific chips when I come across them one day? Could someone here potentially give me some assistance who understands the singles market?
Ebay
 

RudysNYC

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Rarer than that. Been watching for 6 months and no past sales from what I could tell when I started looking. I am sure I could hunt them down, but don’t want to overpay by too much.
Trust me, go to the ChipBoard and post a few feelers. I didn't think I'd find the chip in my avi anytime soon, but after a few posts on the ChipBoard I managed to wrangle one loose and got it for a reasonable price. I happen to collect certain singles as well, and the ChipBoard has treated me well when I needed something specific.
 

Eloe2000

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Trust me, go to the ChipBoard and post a few feelers. I didn't think I'd find the chip in my avi anytime soon, but after a few posts on the ChipBoard I managed to wrangle one loose and got it for a reasonable price. I happen to collect certain singles as well, and the ChipBoard has treated me well when I needed something specific.

I had looked there but didn’t really understand the site. I would feel more comfortable actively pursuing them if I new what fair prices were. Honestly, I am just looking for upper and uncommon Taj Mahal chips. Not totally rate but I suspect they are held by those who have a similar appreciation for the casino as I have who don’t want to give them up.
 

RudysNYC

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I had looked there but didn’t really understand the site. I would feel more comfortable actively pursuing them if I new what fair prices were. Honestly, I am just looking for upper and uncommon Taj Mahal chips. Not totally rate but I suspect they are held by those who have a similar appreciation for the casino as I have who don’t want to give them up.
You're kinda f'd in the a on Taj chips for the time being. Trump's the president now and the MAGA contingent throws money at Trump stuff, so Taj memorabilia has shot up in price since 2016.
 

Poker Zombie

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ChipBoard (aka CCGTCC) is the source for singles. I'm a big fan of their Vegas convention - free admittance on Saturday, and a crazy helpful group. When "Dealer A" didn't have what I was looking for, he knew exactly who would.

...and I didn't have to navigate that nightmare of a website.
 

upNdown

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Rarer than that. Been watching for 6 months and no past sales from what I could tell when I started looking. I am sure I could hunt them down, but don’t want to overpay by too much.
Good luck, then.
FWIW, my feeling on singles is that if you really want one, pay whatever it takes to get it. When I was collecting Gulfports, I saw a $500 on eBay. They came up for sale rarely to never. I think I paid about $60 for that chip (maybe it was $80 - I can’t even remember because it didn’t matter; I wanted it) the most I’ve ever paid for a single chip. And I never had a moment of regret.
 

Eloe2000

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Good luck, then.
FWIW, my feeling on singles is that if you really want one, pay whatever it takes to get it. When I was collecting Gulfports, I saw a $500 on eBay. They came up for sale rarely to never. I think I paid about $60 for that chip (maybe it was $80 - I can’t even remember because it didn’t matter; I wanted it) the most I’ve ever paid for a single chip. And I never had a moment of regret.

Well, these chips I am looking for are several hundred dollars each. So not really impulse buy territory. If I really wanted a chip and it was $50 instead of $25 I wouldn’t care so much. A couple of the chips I am looking for are in that territory but the others are much more.
 

GreenChip111

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Thanks everyone for the replies. I have just gotten into supplementing my LV chip collection from the mid 80s to mid 90s. As said, these were all souvenirs kept from winning sessions and I accumulated mostly $5 and $25 chips and a few $1 and $100 (never had a big enough win to stash away anything $500 or above)

In purchasing on Ebay prices are all over the place, so I’ve learned, as basically said here, that valuation catalogs aren’t of much help. I guess that like any commodity, casino chips are only worth what someone is willing to pay for them. I’ve probably overpaid on some chips I really liked, but have also gotten some nice bargains on quality chips that nobody else bid on

I guess I would qualify as a Singles Collector. My only substantial collection from one casino consists of around 200 chips from Binion’s Horseshoe Club (the REAL Binion’s), in denominations from $.50 to $5,000. Obviously the $500 and higher chips are recent purchases for which in some cases I likely overpaid. However, I loved playing at Binion’s and having a relatively large collection of their chips for blackjack practice and home craps and baccarat games (got bored with poker) brings back nice memories of what Las Vegas used to be

I do have two complete collections of non-casino chips which I use for home play

> Dunes Commemorative Collection purchased from Spinetti’s, all denominations $.25 - $25,000, in quantities 50 - 100 of each, depending on the denomination. They cost .40 each and I have to shake my head when I see them going for $1 and higher on Ebay. The Dunes was another favorite place to play and hang out. I would take the Dunes over the friggin’ Bellagio any day

> Collection of Proline 11.5 gram chips purchased from Gamblers General Store a while back, denominations from $1 - $100,000, in the same quantities as the Dunes Commemoratives. I don't believe the Proline chips are still manufactured, but they are really nice

Lastly I really appreciate the tip on the Chip Guide website (http://chipguide.themogh.org/cg_home2.php). I am now able to organize my collection, and assign a basic valuation on potential purchases, according to issue date. It’s amazing the amount of work that went into that website

Thanks again and regards to everyone who took the trouble to reply

G
 

gmunny

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I have been looking for a Chip Price Guide, but have only found the following two on Amazon and both seem outdated

The Official U.S. Casino Chip Price Guide, Fourth Edition - Published 2008

The Chip Rack 13th Edition - 2011

What do Poker Chip Forum members base casino chip valuations on when considering chip purchases?

Thanks in advance for any advice

GC

check out this thread..

https://www.pokerchipforum.com/threads/the-chip-rack-20th-ed-on-sale-now.58605/#post-1162243
 

RainmanTrail

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Oh yes, “book value.” Reminds me of this post I made: https://www.pokerchipforum.com/thre...f-goes-to-vegas-2019.37692/page-7#post-807537, paraphrased below:


Scene: Annual CGGTCCCGTC chip convention, at an “off-strip” casino.

Me: I’m interested in this (non-mint, dirty) New China Club $5. Can you do anything on price?

Old Fotzer: what price is it marked?

Me: $60.

OF: Let me see what the Chip Rack price is...

Me: *winces*

OF (After paging thru ChipRack for five minutes): It says here that in mint condition, this is a [meaningless code] rarity chip, worth $45-50.

Me: This chip is not mint.

OF: It almost stands on edge.

Me:

OF: But I’m offering convention pricing, discounting 20% off market price, so $40.

Me: *facepalm* You’re discounting off the top of the range listed in a book printed a year or so ago that isn’t based on any observable, quantifiable metrics but is basically subjective make-believe pricing that is the opinion of the guide’s author?

OF:

Me:

OF: Yes. This guide cost me $100.

Me:

OF: Make me an offer.

Me: Do you have more than one?

OF: No—that’s an incredibly rare chip, only a few dozen exist.

Me [who owns racks of them]: According to whom?

OF and me, in unison: The Chip Rack guide.

Me: *blinks*

Me: All due respect, and I don’t want to insult you, but I can offer you a price that is based on what this chip actually sells for in the real market, like eBay or at Spinettis. Examples in better condition have sold for $5-12 recently. I’m not sure I can offer more than that, given those are actual market prices. I can offer $10.

OF: No.

Me: What is your best price?

OF: $38.

Me:

OF: But you don’t have to pay shipping.

Me: :banghead:

Me: Have a good convention....

[Next booth, rinse and repeat.]

Later in the day...

OF [scowling and pointing at me to his wife; muttering]: That guy lowballs. Offered me $10 for this NCC $5.

OF’s Wife: But you have dozens of them, and you paid $25 for the whole lot! The house is FULL of boxes of chips! We don’t even have room for the grandkids!

OF: Hey buddy...I could do $35.

[/Scene]

I just got this gem in my eBay inbox today after inquiring about a chip I wanted that's worth about $3, which was paired with another chip that is worth maaaybe $1, but that someone had priced at over $70. Gotta love the Chip Rack enthusiasts.


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