Yes, the chip CAN be said to be defaced, just as a AUTOGRAPHED chip is defaced. Does it make it any more or less a legitimate chip?? NO. Does it make the "value" of the chip any different?? YES & NO! No, as the casino will honor the face value of the chip EVEN IF SIGNED BY ELVIS!!! Now would this ficticious ELVIS chip be worth MORE in the secondary market?? YOU BET!! (no pun intended).

I'm not sure why Casino Niagara did the chips this way BUT you can only get one at the casino (yes, they're still available) for $9.99 Canadian no matter what anyone here thinks or says so that should be the starting price if offered for sale/trade or auction as that's the REAL value of the chip.

Of course, the method used can easily be forged but not 501/500. I hope our members are smarter than that BUT there could be many 220/500 etc. Since this is issued by a casino, I consider it a 'varient' of the regular issue just as the numbered chips from the Fiesta used in this years club auction are a varient of THEIR regular issue chip......I don't see the difference.