(LAS VEGAS CBS KXNT) Dice, ashtrays – even matchbooks. If it has a casino name on it, it’s valuable. If the establishment is no longer in business, it’s more valuable.
The main attraction this weekend at the South Point is collectible casino chips. Members of the Casino Chip & Gaming Token Collectors Club have come from across the nation to buy, sell, and admire rare chips.
Scarcity is what makes them valuable, club vice president Sheldon Smith told KXNT.
“If the casino made a certain chip, and they only made 100… and three hundred people wanted it, it’s like a Ferrari.” Smith said. “The price goes up.”
The club has held its annual meeting in Las Vegas for 20 years, since its founding by Archie “Mr. Chips” Black, a coin collector whose outreach started with a casino chip newsletter. Black sent it to abut 20 recipients at first. This weekend, 1,500 members will join the conference at the Southpoint.