I guess I need to disagree with you Jill. Being redeemed has nothing to do with it. the question is what would the casino do with it if it came into the cage. Destroy it? Put it back out on the tables? In my mind a chip is obsolete whenever a casino will not put it back out on the tables. It means that they do not want the chips around. It does NOT mean that they don't have 10,000 in the vault that they can bring out again some day. That gets into the issue of "retired".