I started collecting a few months ago and collect LV $5 chips primarily. I referrence both TCR and C&W, but prices that are actually paid for these chips are considerably less. I have watched, and bid on hundreds of auctions and can't remember even a few that went for book value. All the chips listed for sale on this board are also considerably below book value.

Is this a normal market/environment? If so, why are the book values so high? Or is this a depressed market due to external factors....like the economy?

Just curious on what I can expect going forward.

Thanks for your help.