Hi John, I wanted to list a couple of counterpoints to your post. I respect any and all opinions here and please don't take this a personal attack.
> John wrote:"There is NOW SUCH LAW!!!! The gaming board is REGULATORY and has NO authority whatsoever to make ANY law, be it regarding the issuance of casino chips or jaywalking. The board has simply adopted a new POLICY stating they would prefer that any request for chip releases be for a minimum of 500 units."
I don't be believe anyone who has responded to this thread has used the word "law" yet when talking about this topic.
> John wrote: "Obviously, if a casino wants to release a new $10,000.00 chip to accommodate high rollers, it's unreasonable to ask that that casino put up $5,000,000.00 to back a player who may only be willing to deposit $1,000,000.00 in the cage."
I believe the board had indicated that it would not approve any LE's with a mintage of less than 500. So, in your example, if the casino needed to produce a house chip of $10,000 denomination, I don't see how this would affect the casino from doing getting some chips produced. Especially if they needed them support their casino business.
> John Wrote: "Likewise, a casino like the Hard Rock, with a long history of releasing $100 chips in quantities of only 300, has a strong case if they should decide to ask for approval of a $100 chip release of just 300 units."
The Kid Rock $100 chip is the ONLY chip which was released with a qty of 300. Maybe you meant 300 or less. Even so, in seven years the Hard Rock has only released TWO $100 with a mintage of 300 or less. Not exactly a long history:
Source: www.HardRockHotel.com publishes a complete list of chips, release date, and mintage. This list can be found here:
http://www.hardrockhotel.com/shop/chiplist1/Commemorative_Chips_Minted.xls
> John Wrote: "As to what effect it will have on the hobby, just check the prices of the latest Hard Rock chip release. All this bantering back and forth here about "The New Law" has completely destroyed the market."
I don't think we've had enough time to be able to say this has destroyed any market. Maybe some of the collectors that have been around a lot longer can respond to this but it seems to me that the prices of the chips seems to come down over the holidays. It is also my opinion that too many $100 chips have been released lately for the typical collector. Also, there are plenty of Red Hot chips to go around. As a result, the prices are reasonable.
Of course, all of this is just speculation and I think that "All this bantering back and forth" is a GOOD thing as long as it is done in a polite and respectful manner.
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