Current Chip Valuation Guide?

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I have been looking for a Chip Price Guide, but have only found the following two on Amazon and both seem outdated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

allforcharity

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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.
 

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.
 

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]
 

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.
 
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