Why do Casino's not print expiry dates on their chips? (1 Viewer)

[philhut]

Just thinking given the long term issue of cancelling chips and retiring past issues....why have casino's, card room etc.... not gone the route of coupons with printing expiry dates on their gaming chips....I'd assume 5-10yr's after the date of issue would be reasonable to allow for scheduled turn over and statistical income when clients do not return in time to cash in their chips.....

It doesn't make sense that casino's would otherwise invest so much time and energy in punching holes, mulching or otherwise cancelling old chips when a simple expiry date would accomplish all of that.

 

[Matthew627]

Any writing of an expiration on a chip would be so small that the only practical way to do this would be to completely change the chip styles every 5-10 years. No table dealer is going to examine closely every chip.

 

[Natskule]

Because when they are made they don't know when they would expire.

 

[monkeydog]

Because when they are made they don't know when they would expire.

They would if they printed the expiry date on it...

 

[upNdown]

"According to Garner's Dictionary of Modern Legal Usage, "expiration" is the preferred word in American legal English while "expiry" is the preferred word in British legal English."
Fascinating. I just thought "expiry" was slang/shorthand.

 

[allforcharity]

Probably because, legally, they are a form of currency, and you can't arbitrarily cancel the value of something that represents a liability of the issuing corporation.

 

[LeLe]

It because of some laws where you cant put expiry date on cash or cash equality, you can only put non-cashable but not expiry

 

[byline9]

I wish my old ProGen 80 China clays had come with a printed expiration date.

 

[ekricket]

Some members here are well past their “best by” date

 

[Blaster]

Just thinking given the long term issue of cancelling chips and retiring past issues....why have casino's, card room etc.... not gone the route of coupons with printing expiry dates on their gaming chips....I'd assume 5-10yr's after the date of issue would be reasonable to allow for scheduled turn over and statistical income when clients do not return in time to cash in their chips.....

It doesn't make sense that casino's would otherwise invest so much time and energy in punching holes, mulching or otherwise cancelling old chips when a simple expiry date would accomplish all of that.

It may have possibly changed recently, but New Jersey law required all casino chips to remain redeemable, even after a casino had closed. The casino needed to purchase some insurance or leave a deposit with the state Casino Control Commission, to cover the value of any outstanding chips not destroyed, & people could redeem chips from any closed casinos by contacting the CCC ...

 

[ReallyGoodUsername]

It doesn't make sense that casino's would otherwise invest so much time and energy in punching holes, mulching or otherwise cancelling old chips when a simple expiry date would accomplish all of that.

They do this when there’s an unexpected change such as a casino name change, breach in the security of the chips, or the casino closes. An expiration date would not alter the need to cancel the chips but would increase chip related expenses for the casino.

 

[Poker Zombie]

Probably because, legally, they are a form of currency, and you can't arbitrarily cancel the value of something that represents a liability of the issuing corporation.

It because of some laws where you cant put expiry date on cash or cash equality, you can only put non-cashable but not expiry

Businesses put expiration dates on checks all the time, and poker chips are just checks only redeemable in the casino.

 

[LeLe]

Businesses put expiration dates on checks all the time, and poker chips are just checks only redeemable in the casino.

Cheques are very much different to cash as they are addressed to certain person or enterprise and common cheques required signatures as well.

The most similar form of Cheques to cash will be Cash Cheques, those have an auto 6 month expiry date from date of issue.

Under Accounting Practice Cheques are not consider under Cash & Equality, there are only Presented and Unpresented Cheque

This apply to Cash Voucher as well thus those can have Expiry date as well

 

[Pinesol13]

Others have already touched on this, but I think the biggest problem with putting a specific expiration date on a chip would be when there is some kind of security breach, and the casino has to unexpectedly replace the chips. Can you imagine the chaos that would ensue if they had to cancel a chip that had an expiration date of 2 years from now?

 

[Poker Zombie]

If I had to guess, I would say that an expiration date puts an undue obstacle in the casino's operations.

Say for example your 2010-2019 chips had a security breach in 2018. You go the the secondary chips, only to find you will need to order a new set in just 1 year.

Worse, the guy in charge of ordering new chips shits the bed, and forgets to order a new set. Now you have no chips for operations.

Finally, $1s and $5s wear out so much faster than large denoms. It would be so much easier to simply replace the worn chips as necessary.

Finally,

Any writing of an expiration on a chip would be so small that the only practical way to do this would be to completely change the chip styles every 5-10 years. No table dealer is going to examine closely every chip.

Is also a very good point. Casinos don't redesign their edge spots/colors every 10 years. Binions has used the same spots since they renamed around 2004-2005.