First, I never said that there were only 250 of these chips made. I said that according to the chip guide, at this time, fewer than 250 chips from "The Pit" are known to exist.

Why do I think this is possible?

The Pit was a small club in a small town. As such, they would not have needed a large number of chips for their daily operation.

Over the short time that they were in business, they used a total of 7 differnt chips. They had 2 issues of chips, 10¢, 25¢, and $5. In the second issue they added a $1.00 chip.

The chips are nothing special to look at. They are one color, hot stamp, C&J mold. They are not limited editions. There is no reason why anyone who visited the club would want to save large numbers of these chips.

The club was only open from 1960 to 1969. It closed not because the it went out of business, or because the owners sold it, but because the club was destroyed by a fire.

I do not think that chip collecting was a big hobby in 1969 so I cannot imagine many people running into a burning club to scoop up large quanties of these chips with the thought that someday they would be rare collectables.

A search of the WWW turned up no very little information about "The Pit" and NO sites that were offering to sell a chip from "The Pit". The Chipman who claims to have 6,000 chips catalogued on his site does not even mention "The Pit" in his list of casinos.