... (if one were adopted) could be required under the club's Code of Ethics, much as the ANA requires use of their approved system. The issue of sanctions for failure to comply is more complex, but could also be addressed either at the time the club sanctioned system is considered or later as a separate subject.

I'm not sure I agree completely with your observation:

>> there is not much difference in the value of chips from one grade to another (especially in comparison to coins) the use of a grading system is not that critical. <<

While the differences may not (yet) rise to the level of differences in numismatics, there is no doubt that chip collectors are willing to pay more for better quality material. This is NOT crucial with respect to current LE's, which are largely in new condition anyway. But, with hard to find (or "rare" <g>) obsolete chips, condition can make a BIG difference. Note the discussion of the Sands $5 Arodie. As a personal example, I recently bought a set of Silver Queen, Virginia City, chips ($1, $5 and $25). They are in "pristine" condition <g> and I paid about 50% more than I've seen them sold for on eBay in used condition. I was VERY happy to pay the premium price for premium quality.; they are gorgeous chips.

Thanks for joining in Charles. ----- jim o\-S