Paulson THC $1's advice.

DiceDiver

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I seem to be most dangerous when thinking. And I'm sober too. So for that I will beg your indulgence in advance. Thank you.

I'm eventually wanting to create a Paulson THC set for a craps table. I don't have to do it tomorrow, I'm in no hurry. I was thinking about THC Classics, and various others, and have settled on blue as my $1 color. Now if I were to get Paulson Classic THC's in $1's they would cost me much more than one dollar per chip. If I find the right color that I like, why not buy a rack or two directly from an active casino floor? If I change my mind or find a different one I like better I can always turn the originals back in to the casino. This would get really expensive really fast with the higher denominations, but for the one dollar chips this seems to be an option.

Or/and am I being really new at this?

Any coaching in this matter would be greatly appreciated.
 

BGinGA

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Live casino chips -- especially if THC mold and in good condition -- are a great investment for a home game collector/user. They are guarenteed to not drop in value, and can be had for as little as $1/chip (plus labor and travel expenses, and sometimes cage tipping).

Downsides: Some places are harder to harvest than others, not all places use Paulson THC, not all places will have chip colors/designs that appeal to you, and not all chips will be in great condition. You may have to sort through several racks to get one nice-condition rack to take home.

Expect to pay $1.50-$2 (or more) on the open market for harvested live chips that have been collected and cherry-picked/sorted by someone else.
 

BGinGA

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A similar principle applies to higher denomination live chips from the casino as well. You are essentially leasing the chips for your home game (almost for free, after any procurement expenses), since you can redeem the chips at any time and get your money back.

What many newcomers don't realize, is that the same philosophy applies to many other high-end/high-priced chips on the open market. Regardless of purchase price, you are essentially just leasing the chips until which time you resell them at your cost (again, less procurement/shipping costs), so you essentially get to play with some very nice sets for almost zero net cost in the long run.

If you can swing the initial outlay for a really nice set, it's a perpetuating system, and by far the lowest net cost overall for owning a number of high-end sets over a long period of time.
 

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Circus Circus or Flamingo may be your best bet for Vegas live THC blue $1s. You'll find these in the newest condition. Or Paris, but that takes a little more effort as there is no poker room and you can only get a few at a time from the tables.

My cash sets have live $1s & $5s and even some $25s. I justify it as I am currently only renting. Until they are called for redemption, I'm essentially giving the casino an interest free loan. And at current bank savings rates, the imputed interest that I'm forgoing is negligible.
 

BigB2014

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If you ask for secondaries will casinos typically give them to you or not so much? Might have to make a trip soon just to harvest...
 

BGinGA

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Most places that have secondary sets have them strictly due to laws/regulations that require them to do so. Those laws/regulations also cover the security of such items, and when they can/must be used. I've never heard of anybody getting access to live secondary chips. They're usually locked up in a vault somewhere.
 

upNdown

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If you ask for secondaries will casinos typically give them to you or not so much? Might have to make a trip soon just to harvest...
Also worth mentioning, since we were originally talking about $1s is that a lot of casinos don’t have secondary $1 chips at all. Different states have different requirements, but I’d guess that more states don’t require secondary $1s. Or at least from what I’ve seen.
 

BGinGA

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Also worth mentioning, since we were originally talking about $1s is that a lot of casinos don’t have secondary $1 chips at all. Different states have different requirements, but I’d guess that more states don’t require secondary $1s. Or at least from what I’ve seen.
Yeah, Missouri requires a full backup set, but several states only require backup chips for the $5 denominations and larger. Some only require $25 and up.
 

DiceDiver

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Thank you everyone for you r comments and education.

I think I really like the dark blue of the Park MGM $1 or the Aria also has a very attractive chip.

I hadn't thought of the angle that you are only renting the chips, and I am not too far away from Las Vegas that I can't return some if a redemption notice were ever posted. I agree the interest loss is negligible. I am a chip collector but now I get to harvest a little more heavily next time I'm Vegas with a new objective.

Thanks again.
 
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