Closing should be enough to deem them as obsolete as the "issuing entity" no longer guarantees the debt.

And YES - of course - there are many "BUT's and LOOKS"... and tons of "how could anyone have known". And there is NOTHING one can do about that...and as long as no one was redeeming them for 4 years... "obsolete" still applied.

I have no answer for the exceptions... but it is people being led to believe one thing and paying too much for chips based on the info available - that could be "reduced" (to some degree) by not believing (when they CAN'T personally check) something is not in service because it CAN'T be... vs. simply not in inventory at the current time.

Sad to pay a lot and have things change...and unfortunately this MAY happen again and again as chips are discovered and rarity or utilization changes. But when another casino/ authority "gave these chips a value"... thus reversing their status - that kind of thing can't be predicted. The bottom line is the same: just because the casino didn't have them made - doesn't mean they couldn't assess a value for them and honor the value as they agreed. They saved a few pennies by recycling (which was Paul Sax's very valid observation w/ CA chips...)

IMO the chips were obsolete... the decision to re-use them was unfortunate to collectors - but this word has nothing to DO with collectors! It has to do with "value" of the authority who determines that value.

That's for sharing that Bob... and re-post this during the "rare" discussion It WILL apply there also. (don't worry - I'm going to try to STAY OUT of THAT one.