From what little I know about these chips, they are not counterfeit? They were made by the Binion's but were never used in the casino. There were 1000s of them made. They showed up in the collector's world right after Teddy was killed. Story's has it there were many chips in the false room under the garage floor. I was down in the room a couple years ago. About the size of a car? This is also about the same time all the arodie's started showing up. From what I have learned second hand the chips have never had the needed 6 month noticed filed to cancel them? Besides the fact that Binion's will not cash the chips they are real chips approved by the gaming control? You can buy them on ebay for about $25.00, nice looking chip with Benny's picture....Mike