I try to collect obsolete Nevada sets and am really into inlay graphics. I never really got out of the "accumulation" phase, lol. I love these old chips, but so do most other collectors. I monitor eBay values closely. I use a formula, based on a combination of guide book values and personal auction observations to figure out the top end of what I am willing to pay for a chip. While I do love these chips, I force myself to be disciplined and almost always, I will drop out before overbidding. OK, maybe once or twice I may have went "over" but we all have a few "gottahaveits!!!!!" My personal demand has been the same.

5 years ago, I would be watching on average about a dozen chips a week and would ulimately end up the high bidder on a few chips almost every week. I know I was not overpaying, in fact, I was getting a "bargain" when comparing what I paid, versus and informed opinion of what the chip in question should be worth.

Right after the market tanked 14 months ago the were most certainly some bargains to be had, but not nearly as many as I would have guessed. Yes, some people sold/liquidated collections, but there were most definitely NOT a big glut of rare Nevada chips suddenly everywhere. And in the past 6 months, there have been scant few bargains to be found. The good stuff has been showing up less and less, and when it does, it is getting a good $$$. In the past 6 months, I don't think I acquired more than a dozen chips, and believe me, it is not because I am not looking. There is less for sale, and I am continually beiong outbid. On some of the rarer good chips that do appear from time to time, I have had to adjust the upper end of what i am willing to pay because my estimations based on data 2-3 years ago is OFF on the LOW side!

In short, listings have fallen at a higher rate then the drop in demand. At least this is my observation as it pertains to the chips I collect.

I own one group of Limited Edition chips----I have every Palms $1, $2.50, $5 Triple Crown related chip ever made (I am a fan of thoroughbred racing). If I look at what I paid to acquire those chips, and what they are worth today, or what they will cost you today, I am guessing you could put it together for about 65% of what I paid to do it. I do have a few other limited edition chip sets, when a new issue comes out that I like, I get it, but I would not spend more than a buck or two over face value for almost 95% of the limited edition chips out there. The demand is far below what was produced.

From an investment point of view, all I can say is that I WISH my portfolio was in chips, not stock when the downturn hit. I know I would be in better shape!!!!! Even so, I thank God every day that I am still in a position where I can still collect what I want, because I know so many others can't.