I won this Caesars $500 token on ebay today for about half face. To my knowledge, everybody's slot machines at this level still use tokens. Caesars Palace redeems everything they every used at face. I collect high-limit tokens, but usually not this high [g]. Don't know whether I'll redeem this one or not, but sure a buy!

The other side is marked .999 fine silver and 14k gold (probably the plating). Link to scan of other side: http://s252.photobucket.com/albums/hh25/xq7dpb/aw2k/LotImg11552.jpg

I happened across a section of the Nevada Gaming regulations that stated all $100 and up slot tokens had to be gold, or gold plated. I'm not sure why, but maybe had to do with early coin rejectors that needed a highly conductive surface to verify high-limit tokens. Nowdays of course the repeated patterns on the face of all tokens serve that purpose.