A friend of mine called me today in fact. He was at the South Point and had 20 $5 chips from all over Vegas. At the table, not the cage he was able to exchange them for house chips to play with. He was told as long as the casino is open they will trade chips at the tables. The dealer had told my friend that he sees nice old long closed casino chips and has to turn them away. My friend stayed and played a little them went and cashed in the house chips and out the door he went.
Just a thought, maybe other casinos have the same policy.