I don't think it's wrong. But it is risky. If the casino closes, $25 chips don't necessarily retain their value. Collectors can get tired of the issue, or devote their resources to other chips.

From the trade and sale boards, we have all seen what happens to routine 1990s chips over time. 50 cent chips often end up being worth more than $1 chips. $1 chips are often worth a couple dollars. $5 chips seem to usually level out around $7 or so. $25 chips often level out around $29 or so. $100 chips either end up in the stratosphere, or they end up on someone's $5 trade page. Obsolete chips and chips from closed cainos sometimes command a premium, but not a huge one.

Yes, a limited edition of 100 should increase the value, and it probably often does - but not by astronomical amounts. When there are hundreds of chip issues, each limited to 100, you have tens of thousands of chips out there competing for the collectors' attention. If it's a subject (halloween) or casino (Hard Rock) that seems to attact a lot of interest, it's probably a valuable hoard. If it's just another Opera House or O'Sheas tribute to Obscure Holiday Day, I would think the value would stagnate - defeating the profit motive that generally drives hoarders.

I realize there are a lot of collectors who will tell us about the $25 chip they bought that ended up selling for $500 or whatever, but the vast majority of chips involved in everyday commerce [recent chips] are seldom investment grade. Just check the unsold items on eBay to see how the marketplace treats these chips on an everyday basis.

And Carl, the reason someone wouldn't corner the entire run of a chip design is probably because (A) see above and (B) collectors would find out and, out of resentment, avoid paying his scalper prices. I know everyone dreams of cornering the market, but eventually word leaks out they're stuck with a box of stuff no one seems to want anymore.