Foxwoods cancelled $25s (1 Viewer)

[upNdown]

(If anybody has any they'd like to move, please hit me up)
What's the story behind these? I guess at some point, Foxwoods switched from its THC rack to a house mold rack. Why were the $25's cancelled with a hot stamp? And how did they hit the market, subsequently?

You can see images of the cancelled THC $25's in @DrJohn thread -https://www.pokerchipforum.com/threads/drjohns-chip-pr0n-21-foxwoods-paulson.60421/ - maybe he knows how they hit the market, since he had so many.
It just seems strange to me - you don't see the $1's, $5's, or snappers from the THC rack cancelled. You don't see the hundo's at all. And interestingly, the chipguide shows a cancelled $25, but it's got different spots.

Secondary chip, I'm assuming. Though I've never noticed any of those in the wild.
Is there a story here?

 

[raynmanas]

I heard a story from a contractor friend - so take it with a grain of salt, but I personally tend to believe him - that when Foxwoods was having the new MGM tower built, they had an elevator pit dug where there was no elevator going. The contractors didn't know why but dug it anyway. Then one day they dumped a ton of cancelled chips in it, immediately filled it with cement, and carried on with construction. So if true, that could tell you where all the cancelled THC chips reside...if not, it's a fun story anyway.

 

[RudysNYC]

My best guess is that these chips were cancelled when they made the branding deal with MGM Grand.

 

[RudysNYC]

when Foxwoods was having the new MGM tower built, they had an elevator pit dug where there was no elevator going. The contractors didn't know why but dug it anyway. Then one day they dumped a ton of cancelled chips in it, immediately filled it with cement, and carried on with construction.

When it comes to casino stories, I'd almost believe anything. Plus, they uncovered all the Playboy chips in a cement block so it's believable. Hoffa-ing chips is well within the realm of possibility lol

 

[upNdown]

My best guess is that these chips were cancelled when they made the branding deal with MGM Grand.

That seems likely. But why some chips were cancelled instead of destroyed, and how and why they hit the market is my question.
Only theory I can imagine that makes any sense is that they had reordered some from Paulson, then cancelled the order because of the rebranding. But Paulson had already produced them, so after the redemption period was over, Paulson cancelled them and sold them at their retail store?
I dunno, what else makes sense?

 

[joeyshin]

I had 120. But sold my whole set few months back. I recall someone else selling a rack last year but can’t remember who and too lazy to search

 

[RudysNYC]

That seems likely. But why some chips were cancelled instead of destroyed, and how and why they hit the market is my question.
Only theory I can imagine that makes any sense is that they had reordered some from Paulson, then cancelled the order because of the rebranding. But Paulson had already produced them, so after the redemption period was over, Paulson cancelled them and sold them at their retail store?
I dunno, what else makes sense?

I wasn't gambling back then, so can't say for sure about the gift shop, but lately any chip I've seen at a casino gift shop the last several years have been generic plastic recreations, not actual retired clay chips. Obviously could be wrong as this would've been a while ago.

Your guess makes great sense though insofar as how they got produced/cancelled. How they got to the market though, not sure

 

[joeyshin]

I remember a message Foxwoods sent out when they issued new chips and said the earlier edition had some timeframe to cash before they would not be honored. I don’t think they needed to destroy them. Only cancel them.

 

[upNdown]

I wasn't gambling back then, so can't say for sure about the gift shop, but lately any chip I've seen at a casino gift shop the last several years have been generic plastic recreations, not actual retired clay chips. Obviously could be wrong as this would've been a while ago.

Your guess makes great sense though insofar as how they got produced/cancelled. How they got to the market though, not sure

Not a casino store. Paulson used to have a retail store (or two?) where they sold home market chips, and sometimes chips produced for casinos that had been cancelled because they hadn't been used.
Or so I've read.

 

[joeyshin]

Found it

 

[upNdown]

Found it

View attachment 510596

Cool!

I don’t think they needed to destroy them. Only cancel them.

True, I'm sure. But then they could have made a lot of cash by selling off all the snappers and ones and fives and hundreds. But since we've never seen any cancelled examples of those, I'm thinking it didn't happen.
And since when does Foxwoods have a hotstamp machine and a starburst dye?

 

[joeyshin]

Cool!


True, I'm sure. But then they could have made a lot of cash by selling off all the snappers and ones and fives and hundreds. But since we've never seen any cancelled examples of those, I'm thinking it didn't happen.
And since when does Foxwoods have a hotstamp machine and a starburst dye?

I’m not sure but the $25 cancelled I had in my set were mostly scraped already so they didn’t look bad. You could still see the hot stamp a little. My only gripe about my set was the $25 was thc mold and the $1s $2s $5s were all households

 

[raynmanas]

And since when does Foxwoods have a hotstamp machine and a starburst dye?

someone can correct me if I'm wrong, but I'm pretty sure Paulson provides the cancellation service for a fee, but the chips are still owned by the casino. so they would therefore presumably be returned unless the casino didn't want them back.

 

[upNdown]

someone can correct me if I'm wrong, but I'm pretty sure Paulson provides the cancellation service for a fee, but the chips are still owned by the casino. so they would therefore presumably be returned unless the casino didn't want them back.

One of us has made some wrong assumptions, I think, but I'm really not sure who.

 

[allforcharity]

I don't understand the point of going to the trouble of cancelling chips with a stamp and then pouring it into a foundation. Wasted energy and money.

 

[upNdown]

Somebody has to know the story behind this.
Dave? I know it's not your home casino, but you've got as much chips knowledge as anybody. @BGinGA

 

[RudysNYC]

Somebody has to know the story behind this.
Dave? I know it's not your home casino, but you've got as much chips knowledge as anybody. @BGinGA

I can't help with the foundation story lol, but I'm willing to lay tremendous odds that the cancellation occurred because of the MGM Grand rebrand.

As to how they hit the market, I don't know lol that's BGinGA territory. Though I have read that a Foxwoods floor supervisor was a chipper of sorts...

 

[BGinGA]

I either don't know the Foxwoods story, or have since forgotten the details. I'd start any investigation by asking @DrJohn where he got his stash.

But these things are true:

• Gaming regulatory agencies often require that obsolete check/chips be either canceled or destroyed (often requiring verification).
• GPI offers check cancellation services.
• Other companies offer check/chip disposal services.
• Disposing large chip quantites in a concrete structure is cheaper than other forms of chip destruction or cancellation, and is not uncommon.

Draw your own conclusions.

 

[BGinGA]

I don't understand the point of going to the trouble of cancelling chips with a stamp and then pouring it into a foundation. Wasted energy and money.

Unlikely that the buried chips are canceled. If the foundation story is true, they're buried in lieu of being canceled or otherwise destroyed.

 

[upNdown]

@DrJohn (or anybody else who knows) how did these get into our hands?
(AND WHO'S GOT THE SECONDARIES??)

 

[DrJohn]

I am sorry, I can't help you. I got mine either on eBay or from someone on CT, I honestly don't remember which one of these options it was. I definitely don't know the story how they came to be hotstamped, and later sold.