... chips in my collection already which could be called counterfeits, depending on how we define the term.

I personally would include in the definition of "counterfeit" any chip made to fool either the casino when the chip is live or collectors at any time, whether the chip is live or not.

However, I have no problem buying and owning a counterfeit chip which is known to be a counterfeit, which is properly represented by the seller as such and which is bought and sold for the purpose of acquiring a known counterfeit.

My problem is with a seller who misrepresents such a chip and sells it as if it were legitimate.

On the other hand, even a sale of a known counterfeit, represented as such, presents possible problems down the road (e.g., if the chip ever passes into the hands of someone who does not know that is it counterfeit or who then tries to pass it as genuine).

This is a difficult problem with, I'm afraid, no easy solution. ----- jim o\-S