Lots are going on with Binion's Horseshoe chips on eBay. Some is good; some is bad for all collectors.

Binion's has been of interest to many for several reasons; the WSOP, its nefarious (but colorful) history and the plethora of poker related commemoratives.

What’s good is that Binion's is the first introduction to collecting for many looking for WSOP memorabilia, what’s bad is the lack of confidence by serious collectors in the value of Binion’s “rarities”.

Many collectors where burnt some years ago on the $5 Arodie (mustard) which was considered rare until somebody started slowly dumping them on the market. They are now nice $10 chips. The fear of hoards of Binion’s rarities as well as scarcities is always rumored. I have been warned from the onset of my chip addiction (I collect mainly Binion’s) that I should not spend too much on “rare” chips as boxes of them are always rumored about to appear. Or worse, show up on the Home Shopping Channel. And they do!

Currently we see the $1000 Horshu, the 50c Dovetail and the R10 $25 dollar DSWRL appear in an “I found it in the attic” ebay listing. Soon to follow where other nice Binion’s (including the $1 Arodie), with "I’m selling them for a friend who needs money" (same lister). Lots of us have contacted the lister and received a number of similar and inconsistent responses.

I just found another one, oops I have ten; I just got another box (100) there goes R10 to R6 on its way to a keychain item.

Is this Becky Binion unloading thousands of chips? This is one speculation, are these stolen from the infamous buried vault? Is Elvis involved?

On a serious note I would welcome an honest disclosure of what we can expect to see in these chips. I hate to use the word fraud (no accusations implied) but intentionally allowing buyers to believe that what they are getting is rare when indeed you are sitting on a bus load does match the meaning of the word.

This situation is bad for all chip collectors.

Any ideas??