""I like to define obsolete as "no longer available from the casino".""

There is never going to be agreement on this. A short while ago I was at the Tropicana in AC and sitting in rack on a BJ table were several Tropworld $2.50 chips. Are these OBS? I certainly think so and snatched them up.

I consider any chip to be OBS/Collectible if it isn't part of the current issue set (what you would "expect" to be handed at the table).

The day Resorts AC issued the new elevate your game chips, all the others became obsolete.

I think what you typically see on ebay listed as "obsolete" is any chip that isn't current issue and I believe those listings to be correct.

Whether or not the casino still exists or the chip can be redeemed is completely irrelevant to me. Value is based on rarity/availability and has absolutely nothing to do with whether or not it is "obs" or redeemable.

I'll leave the "when does the chip become the property of the patron" argument for others to debate ad nauseum as I have already clearly stated my opinion on that.

Have a good one