"That's a $99.50 profit on every $100 Chip a collector buys.."

I'm told that as long as that $100 chip is not redeemed, it is carried on the casino's books as a $100 liability, because if it is presented for redemption (liken it to just like a check) it must be honored. The monthly check you wrote to your utility company is profit to you if it never gets cashed ... but you better have the funds available in your checking account on the day the utility company presents it for payment. No different with casino chips.

While many Nevada casinos post legal notices that as of such and such date their chips will no longer be redeemable ... Atlantic City has no such provision. Every chip and token ever issued in A.C. (with the exception of Playboy) is still redeemable at face value. Having said that, many collectors who have stocked up on past A.C. issues over the years have since turned them back into the casino cages around town. Only then, has the casino made any profit on the chip/token that walked several years ago. Someone please correct me if I'm wrong.