Seller's description in red is as follows:

"Silver Palace was located in Cripple Creek,Colorado and this chip dates to 1992. Estimated condition survivors is 700."

*700 survivors doesn't sound particularly scarce to warrant a $60 opening bid to me.

"Appraised value of this piece as of March,2005 was $150."

*Wonder who appraised it at $150?

"Last few months a lot of casino chips have doubled and tripled in value so this value should be a lot more."

*Gee, I must have missed that double and triple price upsurge in the last "few months" ... and why would the value on this particular piece be worth "a lot more"?