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The Chip Board Archive 02

Re: 80% of face?
In Response To: 80% of face? ()

Hi Scott,

What I'm saying is that if you should prematurely depart this world, and the person responsible for your estate were to randomly seek out a dealer to sell your collection to in one lot, I know dealers who would buy it using the standard coin dealers' practice of paying 80% of melt (what they could sell the coins stictly for their meltdown value), spot value for the metal on that day, with the "spot" price being the face value of the chips.

In the case of your AC LE's, they're all worth face somewhere in AC, but not worth the time to someone who doesn't collect to cash them in, nor is it worth it to a dealer to add to their stock of chips that they already too many of.

You can't expect low book on a large collection under almost any circumstance. Inorder for a dealer to buy a bunch of chips that he/she probably doesn't need, there have to be more than a few very desirable chips in the mix. Otherwise, they're just sitting on more inventory that moves slowly because too many people already have them. If you can't sell it, and that's what you do for a living, in some cases it isn't worth buying unless you can get an even better deal than what they cost at the casino.

It's a reason that I sell chips individually. Being a chip dealer for a living is not a goal of mine. I love the chips, am glad the full time dealers are there, but I couldn't do it.

Hope this helps.
Happy New Year!
Bob

Messages In This Thread

Lots of $1 Chips for Sale !
Re: Lots of $1 Chips for Sale !
80% of face?
Re: 80% of face?
Re: Plus 10%
Re: Plus 10%
Re: 80% of face?

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