I'd say your instincts are right, Charles. If you want to value your collection conservatively, the chips that are current should be valued at face value. This gets into the difference between retail and wholesale and how you might sell your collection someday. If you sell it as one lot to a dealer you're going to get considerably less than you will if you sell the chips individually to collectors yourself. Of course the latter way is more work. I'd bet there are dealers out there who would not even give you face value for your current chips, insisting on paying less than face.