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Chips bought, sold at Collectibles Club meeting at Bally's Atlantic City

ATLANTIC CITY — Seven years ago, Russ Diaz fetched $4,000 for a vintage $20 baccarat chip.

Those days are over, said Diaz, 65, of Brigantine, and his fellow collectors of casino memorabilia. You’re more likely these days to see a financially strapped collector sadly cashing in old chips for face value.

“Hobbies, in general, are the first thing to be affected when the economy goes south,” said Archie Black, a member of the Atlantic City Casino Collectibles Club who attended its semimonthly meeting and trade show Sunday at Bally’s Atlantic City.

Black maintains a $35 catalog of resort casino items such as chips, key cards and plaques, which lists known supply and recent market prices.

Chips are most popular, but “people collect napkin holders,” said the 72-year-old resident of Brick Township, Ocean County. “They collect swizzle sticks.”

The local chip market is drying up as casinos put out fewer commemorative chips, said Jerry Birl, president of the club.

The group, which started in 1994, has about 275 members, and Sunday’s event drew a typical crowd of 60 to 80 people. Many displayed their own collections on their tables, then browsed the room for items to buy or trade. Others waited in seats by the door while their companions made rounds.

“Ninety-nine percent of people are trading,” said Birl, who made the three-hour trip from his home in Delaware. “Some of the real good chips are still selling. The real value in the hobby is still the old Vegas stuff. Nobody collected chips in the ’30s, ’40s and ’50s.”

The world of casino collectibles belongs largely to the middle-aged and older, Birl said: “The problem with getting young people is they can’t go in a casino til they’re 21.”

Egg Harbor Township resident Ron Leis, 66, has been collecting for 40 years, 33 of which he spent as a casino floor supervisor in Atlantic City, Las Vegas and Reno, Nev.

On Sunday, Leis priced some $1 chips “under face,” he told browsers, letting them go at six for $5. He only brought duplicates of items he won’t part with, and the collection still easily filled his table.

“You ought to see the other three warehouses,” said Leis, laughing.

Most recently, he has been collecting room keys and other credit card-sized plastic keys.

“You become addicted. I do eBay constantly,” Leis said.

The club hosts a website, where members discuss topics such as chips joining or leaving circulation, general casino industry news and personal news about members themselves.

Click here for a link to the club's website.

If the demographics of the market aren’t changing, at least the tastes are, Birl said.

“A lot of people are shifting over to fringe areas, like (items from) illegal clubs. People are learning the history of it,” Birl said, adding that the HBO series “Boardwalk Empire” is stoking interest in that way.

The advent of Pennsylvania casinos will probably add memorabilia and new collectors to the market, too, Black said.

The downturn in values has a silver lining for the market, Diaz said: “At least when new hobbyists come in, they can buy chips at affordable prices.”

Contact Eric Scott Campbell:

609-272-7217

ECampbell@pressofac.com