Gaming Tokens Buying Guide

We have over 30 years of collecting experience.  We believe that sharing that expertise with particularly NEW COLLECTORS is our duty.  Please read the following notes on beginning this new, and exciting hobby.

I.Terminology

1.      There are three different groups of people that describe gaming tokens.  All three 3 use different terms.

The Manufacturers:

Tokens: are different size metal pieces mostly designed for use in slot machines, and other mechanical gaming devices.

 

Chips: are round pieces that are made from clay composites, ceramic, & plastic.

 

Jetons: are round acrylic pieces.

 

Plaques: are rectangular, or square acrylic pieces

 

 

The Professional Gaming Employee:

 

Tokens: are STRIKES, made of some type of metal.

 

Chips: are CHEQUES, used on table games, and are redeemable for cash.

 

Jetons: are CHEQUES, used on table games and are redeemable for cash.

*Exception: Wheel Cheques= non-denominational makers used on roulette games.  These are not redeemable for cash.

 

Plaques: are CHEQUES, used on table games and are redeemable for cash.

 

The Collector:

 

Tokens: are different size metal pieces mostly designed for use in slot machines, and other mechanic gaming devices.

 

Chips: are round pieces that are made from clay composites, ceramic, & plastic.

 

Jetons: is a generic term that can be used to describe, a Token, Chip, Jeton, or Plaque.

 

Plaques: are rectangular, or square acrylic pieces

 

II.Rarity

There are SIX major factors that affect rarity.

1.      Whether the token is LIVE; that is being used currently in a casino, and OBSOLETE; that is the token is no longer in use.

2.      The AVAILABILITY of particular casinos tokens.  How many of them are for sale.

3.      The DENOMINATION; that is, higher denomination tokens are made in smaller ratios than lower denominations.

4. The CONDITION of the piece!  This is very important.  Four factors   that influence this.

·        Warping

·        Discoloration

·        Wear

·        Cancellation: Notching, Drilling, Stamping, and Shaving, or Cutting off corners.

Cancelled tokens are generally less desirable for collectors, BUT, that may be the only way they are available.  We personally don’t buy them.

We recommend placing a very high scrutiny on condition.  We know from experience that at some time your collection will be sold, or passed on to another person.  The condition of your collection will have a large impact on the resale value of it!

5.      The AESTHETIC VALUE; that is the colors, and design of the piece.  Our philosophy is: if we don’t like the way it looks, we don’t buy it.

6.  The LOCATION of the casino, its age, and history.

III.Budget yourself.

As collectors, we remember from our first years in this wonderful hobby, some things not to do.

·        Start by purchasing the highest quality piece you can afford.

·        Don’t buy to impress other people.

·        Learn the history of the casino token you purchased.  We have plenty of people to help you with that.

·        Avoid buying cancelled material.

·        Avoid buying from commerce sites that have poor quality pictures, this goes for public auctions as well.  Remember, at that point you are only buying a picture.

·        Failure to take caution when starting a collection could cost you more money that the pieces are worth.  Be patient.  There are dealers that look for people who have extended themselves to the point were they can not afford what they bought.  You will usually be approached by them to sell your collection for half of what it is worth.

·        If you have any other questions; please feel free to contact us.  We are here to help you.

*REMEMBER: The certantity that you will sell or transfer your collection is 100%.  We will all die someday.  Build a high quality collection.