OBSOLETE - regarding chips - should indicate a clear relationship - or lack of one ~~ with the ESTABLISHMENT and it's obligation or responsibility to redeem them.
(Ummm... except in CALIF I guess - since everyone recycles everything... including chips )

Whether the casino closed - they pulled them - destroyed them - changed racks - posted a redemption period - but they wouldn't be "obsolete" until an establishment is no longer obligated to redeem them "for money".

RETIRED would be like the Reno- Tahoe Harrah's BJ's chips. They released them, pulled them, replaced them with brass again, pulled the brass and are using them again. (kinda).

BUT ONE CAN BUY THE $1 "pulled in 3 weeks - obsolete" chip and the ORANGE $2.50 "ERROR" chip at the cage RIGHT NOW (or last month)... so these are not "obsolete". If they are "brought back", sold at the cage (and they have been!) - if they are still "available", or if they can be returned for cash.... they still "serve their original purpose" - and ARE considered "money".

If an establishment "doesn't have them" or "they are not available" - heck! Every Hard Rock chip would be obsolete in 10 minutes!

"Obsolete" indicates "a former or previous postiton of usefulness, value or "worth" (NOT to collectors, but to the casino).

But if one can plunk one down to play - or cash it in at the cage... it is not obsolete... it only "wandered back in" because someone pulled it out of his sock drawer to play.