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The Chip Board Archive 01

Re: Food for Thought re Chip "Theft"

Jim --- one more thing, notice that the required sign says that federal law prohibits the use of TOKENS outside the establishment (but not chips, apparently), while state law prohibits such use of CHIPS (but not tokens, apparently). Do you know the specific applicable code sections (U.S. code for the federal law and Nevada stats for the state law)?

Interesting article in the July 5th Parade magazine about privately issued currency (emphasis on Ithaca NY "Ithaca Hours" currency). The article makes the point that there is no federal law against producing private paper currency in values of $1 or more and that only private COINAGE is prohibited. This would seem to explain the posting requirement regarding the prohibition of token use outside the issuing casino. On the other hand, are chips "coinage" within the meaning of the federal ban?

This, BTW, would seem to explain the legality of such paper money substitutes as Disneyland's Mickey Money and retail gift certificates.

----- jim o\-S

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Food for Thought re Chip "Theft"
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