Did Geraldo find another Ted Binion vault? (1 Viewer)

[eztrekker]

over 60 racks of Binion's clay T5, T25 and T100 chips were just revealed on eBay. There are at least 3 sellers now with Binion's Bud Jones chips in quantity. Where are they coming from?

 

[RichMahogany]

My guess is someone in the Binion’s family.

 

[ReallyGoodUsername]

My guess is someone in the Binion’s family.

WHY DID THEY KEEP THEM IN A CLOSET FOR X YEARS?!

 

[i'm nobody]

WHY DID THEY KEEP THEM IN A CLOSET FOR X YEARS?!

$$$$$$$$$$$$$$$$$$$$$$$$$
May be hurting because of the recent slowdown. Good way to get some cash quickly.

 

[BarrieJ3]

Can I get a rundown from you knowledgeable folks? I’m a brand new chipper, and overall pretty young.

Previously, how scarce were these? Do people have full sets or mostly just people collecting singles?

 

[JeepologyOffroad]

I'm not a Binions expert, but T100 singles were selling for like 50 bucks a pop I believe

 

[ReallyGoodUsername]

Can I get a rundown from you knowledgeable folks? I’m a brand new chipper, and overall pretty young.

Previously, how scarce were these? Do people have full sets or mostly just people collecting singles?

based on what I've seen, before this, having a rack of any 5-100 gave you a pretty good chance at having a one of a kind rack

 

[BarrieJ3]

based on what I've seen, before this, having a rack of any 5-100 gave you a pretty good chance at having a one of a kind rack

Holy crap. So this is a real kick in the balls. Did people think or know that there were a bunch being held back? Perhaps I need to google a bit more about bunions, anyone have a great historical rundown resource?

Jeep was your find the same guy that’s selling the shit ton of em, or did you grab elsewhere?

 

[Eloe2000]

I need to google a bit more about bunions

those google results will not be very exciting

 

[FDLmold]

I'm not sure any Binion's chips ever got destroyed. So you take the chance that a hoard will be found when you buy an expensive single. Collecting California singles is a similar risk.

 

[gopherblue]

This is the case with many chips out there (the risk that there are far more squirreled away somewhere). In fact, anecdotally, I know there are several dealers that frequent the chip convention that dribble out singles of various chips over years/decades, just to reap max profit and so that they don't crater the price. They wont even admit to having them. Hell, I've been told "no, that was my only one," only to return the next day and see another in their display case. But they don't want the price to crater.

These Binions will do that to the $50/chip pricing that previously existed.

A good example of this is the (previously) exceedingly rare mint condition LV Union Plaza $500 TRK scrown chip.

A year or so ago, a mint one showed up on eBay and went for 4 figures. Collectors went bananas, because it was rare. Then another showed up and went for about the same. Then another. And another. Pretty soon the prices started moving downwards, but slowly. It was obvious to anyone that the seller had racks of them. I stayed on the sidelines until I picked one up for like $35, and I definitely overpaid. They go for under $20 now, but even so, some sellers haven't gotten the message. One is listed on eBay for $400. Lol.

The sad thing about most of the singles chip collecting world is that, aside from the fact that most of the collectors are aging-out, there really isn't much of a market for these massive singles collections. Most chips are really worthless. Only very specific and demonstrably rare chips have real value, and even that can go ass-over-teakettle as soon as someone finds a hoard somewhere. There is one known New China Club $100. It last traded for high 4 figures. But someone, somewhere, is bound to have some of these. And I hope I find them. Not because I will sell them for 4 figures each, but because my set really needs some value chips.