I would normally agree with you. However, you really should name names if you're going to make such a statement.

I see nothing wrong with buying a chip as cheaply as possible. The problem arises when the buyer purposely understates (LIES)the value of the chip in order to buy it at the low price.

You don't think Jim Steffner paid thousands of dollars for the chip he sold for $15000+, do you. I'm also fairly sure that James, Steve, David and Barry didn't pay 5 figures for the $5 Sands arodie. I'll also take a wild guess and assume John B made a nice profit on the Cal-Neva acorns.

Of course I'm sure most of Rene's "find" were bought for pennies on the dollar.

Also there are the new chip dealers (Andy Hughes, as I recall) who bought a new issue recently at face (obviously) but turned around and made huge profits due to how limited it was.

Bottom line is offer whatever you want for a chip (in Andy's case - face value). However don't give a false appraisal in order to buy a chip at bargain prices. All case cite above are fine with me.

BTW, do like the way I name names. Try it.