I like chips are in pretty good shape. The stand on edge test is one I use. I have some that I can read and look ok, but I really think condition chips make more beautiful collections and fetch more money if you sell.

If you are a buyer, you will eventually be a seller - even if it's your estate. I guess some collections are passed down in a family, but that's the exception rather than the rule I am guessing.

I'm a collector - maybe just more particular than some and not as particular as others.

I agree, grading is subjective. I just got a chip from a guy that claimed it was AU. It's not and not even close. I got a 4 Queens straight from the cage (said teh seller) and it hade a fair sized nick, certainly not mint. These guys get offended some time when you send it back. Better than getting stuck with a inferior chip at the price paid.

James had a very detailed and concise grading scheme in his last book - trouble is, no one adopted it. Even a detailed grading scheme like that is somewhat subjective.

A token aligned or coin aligned chip, may be worth more than the other 95% of the same chip, if that's what a collector see's as "perfection" and is willing to pay.

The club has implemented a grading scale - it's not bad and it's not as complex as James'.

Reality: A 1st Issue Landmark that never saw the table and is in absolutely immaculate condition is more pleasing to the eye - it's history caught in a freeze-frame and it will always cost more to buy and fetch more in a sale than one that won't stand on edge, has no cross hatching and is worn as smooth as a stone.

Look at coins and their grading system - very detailed and universally accepted (as far as I know),

Chip grading is subjective, but irrelevant? I couldn't disagree more. If you really believe that, I have some chips I'd like to sell you.

Most chips aren't the same! The ones that came off the table day one and the ones that were in play for 3 years are worlds apart.

The club grading sytems suits me pretty well, but as we've seen (or I have at least) sellers will use vague terms like "great condition, for it's age," and other such descriptions that really tell you nothing.

My 2 cents.

Cheers,

Sonny