In Puerto Rico, as in most other locations, there are no regulations on what happens when casino chips are retired. I think Atlantic City is the only place with strictly enforced rules. In AC, retired chips must be destroyed by the casino and AC chips never lose their face value, they can always be cashed in, even if the casino closes. Getting back to Puerto Rico ... many retired casino chips from closed casinos were sold off in bulk when the casinos closed along with the furniture and fixtures. There are several parties that are known to have large quantities of these chips and lately they have been releasing them into the market. So you can now get great deals on some old PR chips. But there are many more old PR chips out that are extremely hard to find and still worth a premium. What has also occurred is that collectors are now gun shy about PR chips and many of the truly rare chips are now available at lower prices.

The same explanation also fits recent hordes of chips that have become available on the market from some closed card rooms in California and from some defunct cruise ships. And there are even hordes of old Nevada chips that come onto the market from time to time. See my post about the West World chips from earlier today. When hordes become available, prices go down.