If a casino will redeem a chip for face at the cage, and would sell them for face at the cage IF they had them, the chip is not obsolete. What would they do if a hoarder brought back a rack of 100? Any chip failing either test is obsolete. Unfortunately, especially with obsoletes, it can sometimes be difficult to know the answer to the second test. Clearly, if a casino has done a redemption, Like Harrah's Lake Tahoe did with the sailboat chip, or if the casino is gone, like with this Bally's chip, the chips are obsolete.