This brings me around to one of the questions which has been troubling me for some time. That is why do collector's collect LE's.

I collect them myself, this isn't to suggest that people shouldn't collect them. I know many people feel LE's are good for the hobby because they bring in more collectors. I for one started with playing cards and then $1 house chips not LE's.

I understand the appeal of house chips and illegals and old poker chips because it is the connection to gambling past and present which interests me. Maybe others are motivated by something else.

But today's LEs have no real connection to gambling. At many places they are never intended to be used on a table. Collectors demand them in uncirculated condition.

But to some degree I have to think that the thing which appeals to many people about the LE's is the L. That is to say the fact that only a limited number of people will own one. It allows the collector to say I have something you don't. While this could be said by owners of many obsolete old chips, the LE's are much more affordable especially when you can get them at face value or just over face value.

If Harrah's March Madness chip was put out in a quantity so high that every collector who wanted one could have one, would fewer collectors want one. I think the answer is probably yes. certainly many collectors would want this chip, but not as many want it as when the quantity is limited.

So while I do not condone Rene's actions (if true). Aren't all LE collectors (including myself) to some degree displaying the same behavior by supporting the concept of artificial rarity. After all, Rene just made the chips even more limited.