Paul:
You've already received several excellent replies from Jim, Steve, and others;
so there is not much I can add. I've traded face with you a few times and will
continue to do so as long as we are both satisified with the trade we work out.
Steve made some excellent points about "trade value". It reminder me of a few years back when I was a beginner. The first couple of people I got into trade
discussions with were two long-time veteran collectors. They explained the reasoning for trade value being a fair method.
As a beginner, I had thought you could trade one $5. chip for five $1. chips.
After all it was five dollars both ways, what could be fairer than that ?
But they explained, the time/expense involved for Collector "A" to get his single $5.00 chip might be just a fraction of the time/expense involved for
Collector "B" to get his five different $1. chips. Even if he personally picked up the five $1's at five different casinos, it took much more time than for the guy
who picked up the single $5.
So, that's why the trade value method that Steve described comes into play.
Therefore, it can often be said that three current $1.00 chips (from different casinos) are equal to one current $5.00 chip in value.
And, as Jim pointed out, one must consider where the chips are from, or what
expenses the person incurred to get the chips. Whereas a current $1.00
Las Vegas or Atlantic City chip might be valued at $3., A current $1. chip
from a little far-away town like Jackpot, Nevada might easily be worth $4.
because its from an out of the way place that few collectors visit.
Or, a $1. chip from somewhere like Australia, thousands of miles away, might
carry a value of $7., it can go on and on......
Obsoletes? Thats an entirely different matter, but the chip guide books at least offer some assistance as a guide, although are in no means meant to be an
actual price list.
Don