Rule of thumb for $$ to spend on poker chips? (1 Viewer)

[elemeno]

I'm new and honestly bewildered at the prices of some of these poker chips. They sure look nice, but it's a bit hard for me to swallow $5 PER CHIP!

I'm trying to come up with a rule of thumb for what an acceptable amount to spend on poker chips are. As an example, I've read that one shouldn't spend more than 1% of annual salary on a watch, an item that is quite comparable to poker chips. They're both not a necessity but also nice to have. Another barometer for how to set a budget is % of net worth.

What percentages do you think are reasonable to use for annual salary or net worth? Are there other rules of thumb that this community likes to use?

 

[BearMetal]

but it's a bit hard for me to swallow $5 PER CHIP!

I wish some of these chips were only $5! Sales from TCR can reach up to $20 per chip for the higher denoms!

You spend what you can afford and what will make you happy. There are excellent deals to be had! If you want authentic clay casino chips, you can build a set for well under $5 / chip. If you make your own through CPC, again, way less than $5 / chip.

My rule of thumb: spend what I need to make me happy without making me feel like a horrible person for not adding that money to the kid's college funds.

 

[FDLmold]

Lol rule of thumb. Seriously, there are at least five factors that go into the budget of a set of chips. What is their function and how many do you need, what is your income and budget level, how much do you like the chips, how much do you trust your players, how much FOMO do you experience, etc.

If you dive into this hobby and pay the market rate for any second hand set of chips, you’ll never lose much if any money as you navigate your way around and gain experience and knowledge.

 

[RocAFella1]

Spend 2 months of your income on chips per year.

 

[louBdub]

Buy the chips.

Be a man.

 

[elemeno]

If you dive into this hobby and pay the market rate for any second hand set of chips, you’ll never lose much if any money as you navigate your way around and gain experience and knowledge.

Are you sure? I was browsing around and it does seem some have lost some money, though I'm not sure how much.

https://www.pokerchipforum.com/threads/btp-tournament-set.95252/#post-2078354

 

[upNdown]

If you dive into this hobby and pay the market rate for any second hand set of chips, you’ll never lose much if any money as you navigate your way around and gain experience and knowledge.

It really depends on where the market is. Remember when people were spending $10-$20 apiece on those Chicken chips?

As far as I’m concerned, spend as much or as little as you’re comfortable spending. I’d suggest two rules:

1) spend enough that they’ll stack 20 high without wobbling, and
2) spend as much as you’re comfortable spending, as long as you’re not counting on reselling them for 100% of what you paid. (Though if you “buy” them at the local casino, you can ignore this rule.)

 

[Thomacetti]

Spend 2 months of your income on chips per year.

In this case my kids would be eating chips for dinner two months a year.
Like gambling, you only spend dollars that come extra (poker, side jobs, bonus, …).

Mostly, you buy chips when they are available and “cheap”…turnkey sets and grail racks come at a hefty pricetag if you have no patience

 

[elemeno]

I wish some of these chips were only $5! Sales from TCR can reach up to $20 per chip for the higher denoms!

You spend what you can afford and what will make you happy. There are excellent deals to be had! If you want authentic clay casino chips, you can build a set for well under $5 / chip. If you make your own through CPC, again, way less than $5 / chip.

My rule of thumb: spend what I need to make me happy without making me feel like a horrible person for not adding that money to the kid's college funds.

I guess this is what I struggle with and that's why I tried to see if there's a rule of thumb. What I can afford and what is reasonable to spend might be different figures. For example, someone's net worth is $10 million. She can afford, easily and with room to spare, $1 million in chips, but most would not say it's reasonable to spend so much on chips.

Anyways, I must have asked a dumb question because I'm getting laughed out of the room! I promised I searched around and couldn't find anything about the subject.

 

[Josh Kifer]

What percentages do you think are reasonable to use for annual salary or net worth? Are there other rules of thumb that this community likes to use?

As little as possible while getting the chips you want.

 

[kmccormick100]

With chips like the various Cards Mold sets, one need not spend more than ~$.50/ chip to get a high quality semi custom great looking and feeling set. The rest of us are just sickos.

Also, I clearly missed the 1% of salary on a watch memo... if that were the case we'd all only be wearing Seikos and Citizens haha.

 

[elemeno]

With chips like the various Cards Mold sets, one need not spend more than ~$.50/ chip to get a high quality semi custom great looking and feeling set. The rest of us are just sickos.

Also, I clearly missed the 1% of salary on a watch memo... if that were the case we'd all only be wearing Seikos and Citizens haha.

Oh wow, you're right! After a search, some of these chips look fantastic! https://www.pokerchipforum.com/threads/arias-cards-mold-cash-set.95826/

Is Aria okay with these? I wouldn't want to break any laws


Regarding the watch, it's just a rule of thumb and for me, it sounds about right. I think the more you earn, the more leeway you get. Someone who earns a million a year can easily spend $50k on a watch and still save/invest/live well. But someone who earns $100k with student debt and aspirations to buy a home may not want to spend $5k on a luxury.

 

[MichaelBubly]

I'm new and honestly bewildered at the prices of some of these poker chips. They sure look nice, but it's a bit hard for me to swallow $5 PER CHIP!

I'm trying to come up with a rule of thumb for what an acceptable amount to spend on poker chips are. As an example, I've read that one shouldn't spend more than 1% of annual salary on a watch, an item that is quite comparable to poker chips. They're both not a necessity but also nice to have. Another barometer for how to set a budget is % of net worth.

What percentages do you think are reasonable to use for annual salary or net worth? Are there other rules of thumb that this community likes to use?

Welp. I just spent about 3% on a watch and I'm fully down this rabbit hole. And a few other assorted, expensive hobbies. Retirement saving isn't important right??

 

[swana]

What's reasonable tends to be a moving target around here and differs from person to person AND what types of chips you are after... Personally I don't wear a watch so I can put 2% of income (gross) into chips

 

[davislane]

spend $5 for every dollar you think the chips are worth

 

[Goldfish]

Boy do I feel like an idiot.

 

[Beakertwang]

With chips like the various Cards Mold sets, one need not spend more than ~$.50/ chip to get a high quality semi custom great looking and feeling set. The rest of us are just sickos.

Also, I clearly missed the 1% of salary on a watch memo... if that were the case we'd all only be wearing Seikos and Citizens haha.

I adhered strictly to the 1% rule, which is why I ended up with this bad boy.

No idea how I managed to calculate 1% of my salary before I purchased it, however.

 

[Moxie Mike]

I guess this is what I struggle with and that's why I tried to see if there's a rule of thumb. What I can afford and what is reasonable to spend might be different figures. For example, someone's net worth is $10 million. She can afford, easily and with room to spare, $1 million in chips, but most would not say it's reasonable to spend so much on chips.

Anyways, I must have asked a dumb question because I'm getting laughed out of the room! I promised I searched around and couldn't find anything about the subject.

Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?

 

[FDLmold]

Are you sure? I was browsing around and it does seem some have lost some money, though I'm not sure how much.

https://www.pokerchipforum.com/threads/btp-tournament-set.95252/#post-2078354

You found the one exception, overpriced NAGB chips. I never would have bought any of those.

 

[Moxie Mike]

Oh wow, you're right! After a search, some of these chips look fantastic! https://www.pokerchipforum.com/threads/arias-cards-mold-cash-set.95826/

Is Aria okay with these? I wouldn't want to break any laws

There was a discussion about this a while back. I think the consensus from an IP standpoint is it's OK if it's strictly for personal use. Keep in mind they're manufactured in China. They're all made to order.

***The obligatory 'I'm not a lawyer and this is not legal advice' disclaimer applies.***

 

[TheChipRoom]

Way more than you ever thought possible. It's an investment!

 

[Beakertwang]

Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?

You win the internet, good sir!


I read this to my wife, and she laughed along with me.

 

[Rieguy]

Grab a quick/cheap set you like the looks of after confirming an efficient breakdown and then sprint the fuck out of here.

You'll never know to thank me for this advice, hopefully.

 

[allforcharity]

No rule of thumb. Buy what you want/can afford.

 

[RivieraDanny]

Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?

Nailed every single point.

 

[Eriks]

Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?

Stop following me!

 

[BearMetal]

I guess this is what I struggle with and that's why I tried to see if there's a rule of thumb. What I can afford and what is reasonable to spend might be different figures. For example, someone's net worth is $10 million. She can afford, easily and with room to spare, $1 million in chips, but most would not say it's reasonable to spend so much on chips.

Anyways, I must have asked a dumb question because I'm getting laughed out of the room! I promised I searched around and couldn't find anything about the subject.

Not a dumb question!!! But it did make me laugh.

The best places to start are to figure out what your actual budget is and what you actually need and what you want. All those things will be different.

There are so many varieties of chips ranging from plastic to ceramic to clay, that there are sets for literally any budget including someone who has a million dollars to spend.

The issue with this place is that the more you spend here in terms of time, the more you're going to spend here in terms of your wallet. 1 set will turn into two which will turn into five which will turn into 10.

 

[LowerBama1714]

I wish some of these chips were only $5! Sales from TCR can reach up to $20 per chip for the higher denoms!

You spend what you can afford and what will make you happy. There are excellent deals to be had! If you want authentic clay casino chips, you can build a set for well under $5 / chip. If you make your own through CPC, again, way less than $5 / chip.

My rule of thumb: spend what I need to make me happy without making me feel like a horrible person for not adding that money to the kid's college funds.

My kids aren’t going to college….I made that decision when I bought tigers.

 

[LowerBama1714]

Just buy some Aurora Star cash chips…not sure if there are any available. They are rare and fabulous…if you see a set for sale, then BUY IT. It may not be available for long….just sayin. Make sure they are “minty”….

 

[Jake14mw]

Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?

This is it exactly for many. Great post!

OP, why are you looking to buy poker chips? Do you have a group you play poker with, or are you trying to get a game going? Or are you looking for a hobby like stamp collecting or comic books or something like that? They are entirely different things.

If you're just trying to buy some chips to play poker with friends, then those cards mold chips are the way to go IMO. I've been in this forum for years, and I still stick to my budget. Been hosting the guys in my group for 15 years, and they could care less whether we play with my Paulsons, Cards mold chips, or plastic Nexgens.

Nevermind about any guidelines. Stick to what makes sense to you.