Welcome to the hobby Larry!

It is complicated when figuring value concerning obsolete chips.

Your example of $133.50 face value selling for $9 would have to be the result of a large number of those chips being made available to the collector market after the chips could no longer be redeemed for cash at the cage, either by the casino closing or a redemption notice being issued by the casino rendering the chips non-negotiable after the expiration of the redemption notice. An exception to this is Atlantic City chips. The way gaming regs are set up in AC, even after a casino closes, you can find a place to cash them in at face value.

I'm not sure, but I think the record price paid for a casino chip is somewhere in the neighborhood of $15,000 for a $5 obsolete Las Vegas chip.

Bob