... reality, Archie!! (BTW: Credit that to Mercedes Benz, I think.)
And while perception may change from collector to collector, the reality doesn't (and can't, there being no "relative" reality ).
Either a particular chip is available at the casino for face value or isn't ...
... any casino either is or is not holding back a particular type of chip ...
... and a chip can be redeemed for face value or it can't ...
... and it doesn't much matter what my perception of any of those circumstances is (or what I call them). Regardless of what I call any particular status of availability or redeemability, nothing I do is going to change the reality regarding any chip at any particular casino.
Caveat: I am not saying that an effort to establish reasonably accurate and accepted definitions for the hobby is a bad thing. I just don't think the concept "obsolete" is very useful, unless it is limited to chips for which there can never be an exception to the definition.
Which probably means that the only "safe" definition of the word is: "A chip from a closed casino which has no hope of ever reopening under the same name and resuming use of the chip."
Which, it seems to me, isn't a very useful definition!
----- jim o\-S
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