Sneaking out of the casino with chips (1 Viewer)

[Mojo1312]

It would be interesting to know how many small denomination chips are actually taken harvested by casino patrons each year. For a large Vegas casino is this number 50,000 chips? 100,000 chips? or way more?

FYP.

 

[MC_Chip]

Total newbie here. Can someone explain the math that supports "harvesting" chips from a casino in denominations larger than a dollar? Also: at some point lots of casinos close, change owners, re-brand, etc. and chips must be retired or somehow invalidated, right? Does the value of a chip (assuming a high level of quality materials and attractive design) go up that dramatically after a casino closes? Do the casinos sell off huge lots of old invalidated chips or destroy them?

 

[allforcharity]

Nevada casinos are mandated to destroy all chips once they are no longer redeemable. Very few are allowed to sell their chips, and then only to recognized buyers or auction bidders (not necessarily the man on the street).

There is no math in harvesting. It's either worth it to you or it isn't. Lots of people are glad to pay face value for at least $1 and $5, if they like the chips.

 

[BEANO52]

It is going to vary by casino and game offerings (assuming poker is offered). For instance, Golden Nugget Vegas spreads 3/6 limit, walk up to the poker podium, within reason, ask for whatever chips you want. For instance, asking for 3 racks of $1s they would simply hand them to you. Ask for 12 racks of $5s is going to raise some questions. Otherwise drop them in your pocket at the craps table. At least that's what I do. Play for a couple hours and it's cake to come out with 50 ones easy.

 

[Okku]

Nevada casinos are mandated to destroy all chips once they are no longer redeemable. Very few are allowed to sell their chips, and then only to recognized buyers or auction bidders (not necessarily the man on the street).

Correct and sometimes the NCV chips will be for sale at an auction because they have "no cash value" meaning no value. They usually do not need to be destroyed similar to how the Lakeside Inn chips were available when that casino closed in 2020.

 

[HughDrackman]

FWIW, I’ve gone harvesting at my local casinos, and if you’re looking for small amounts, they’re all too happy to let them go. I just walk up to a table, ask if they can do me a favor and trade $1 for a chip, and they’re ambivalent at worst. Sometimes they ask if I’m a collector, I say yes, and they pick out a clean looking chip for me.

This works less well with fracs, and I haven’t tried harvesting a rack or even a barrel, but single chips are no big deal to a casino.

 

[slisk250]

Total newbie here. Can someone explain the math that supports "harvesting" chips from a casino in denominations larger than a dollar? Also: at some point lots of casinos close, change owners, re-brand, etc. and chips must be retired or somehow invalidated, right? Does the value of a chip (assuming a high level of quality materials and attractive design) go up that dramatically after a casino closes? Do the casinos sell off huge lots of old invalidated chips or destroy them?

Here is the math. 5s cost 5, will always cost 5 and you can immediately sell them back when you “go another direction” In this market, great 5s are worth more imo. If I were selling my best Ballys 5s (I’m not) they would cost 1K a rack to start. I love em.

Do the value of the chips go up after a house closes in a place the chips are destroyed? If chippers wanted them before, the value could go up a bit.

If a casino can legally sell their chip rack, they will. In general, this never happens in Nevada. I have amassed a huge collection of live THC & housemold chips this year To put in a trade center I’ll start after Christmas. We will see if I can trade for a few things I want. Money doesn’t work like it used to. Many more chippers here now.

Again, I’ll applaud the dedicated chip harvesters out there. They work hard bringing you chips and Vegas isn’t cheap. Parking at the good places is about 30+ and everything is pricey. Even with comped rooms the resort fee and taxes get you back to 70 a night depending. Anything a harvester charges is reasonable imo. It’s the flippers “going another direction” while extracting full value that add nothing here.

Harvesting…go around and only play the tables at the places you like the chips. Be friendly and make bets for dealers.
They don’t care if you take chips, the pit boss probably cares but tips keeps everyone quiet. There are plenty of Vegas houses that have almost new 1s and 5s. Go get em. The cages are different. Some help, others don’t.

edit - and never cash any mint chips. Keep ‘em all and build racks