Many, many years ago in a kingdom by the sea (Monte-Carlo), there was a man by the name of François Blanc, (sorry for it not rhyming) a mathematical genius, who was givin exclusive rights by the prince to operate the casino.

One of the first chips in the early days of the casino was a 2-franc piece. Players would purchase these pieces to stake minimum bets at the roulette and trente et quarante tables (the only two games in town), and at the end of a day's play the chips could be redeemed at the "Guichet" for face value. In practice, the chips were not always redeemed, and were filtered into circulation in Monte-Carlo.

The chips were accepted everywhere: by shopkeepes, restaurants and hotels, in lieu of cash, as there were two-hundred thousand of these chips struck at the
Paris Mint. This accepted practice continued for many years -- well into the 1870s...until one day when Mr. Blanc decided to recall his chips and issued a mandate announcing that they must be redeemed. His 200,000 chips had mysteriously grown to 400,000 chips -- and he had to pay out the 2-francs for each piece turned in.

Maybe this is why they don't accept chips in Gene's gift chip!

This story and other intersting stories about the Casino de Monte-Carlo may be found in "Casino Tokens of Monte-Carlo" by Thomas C. Day. Available from the American Numismatic Assoc. at $3.00 per copy.

John Benedict