It's history.

According to the Nevada Gaming Control Board's "Chip & Token Report", this chip was approved 1/27/1999, as a "second rack" chip in a base color of lavender, with 3 sets of 3 inserts (Sherbet Green, Hawaii Flower, and Mint Green). A reorder was approved in February 2003. (Note: The "first rack" $500 was also approved in 1999, which we see as a rack/house-issued chip, i.e., not the "baccarat" version, but the regular version $500 chip. (The terms "First" and "Second" "Rack" are Gaming Control terms that do not appear to be defined.)

Both this baccarat chip and the $500 1999 rack/house chips are current, in-play $ 500 chips, as verified by me when I visited the Mandalay Bay baccarat pit last week. The friendly pit personnel showed me the current $500 baccarat, and sure enough, this is the same chip. In my conversation with the pit, they informed me that I could cash the chip in, no questions asked. No verification with the pit that I was a player. Just take it to the cage. There were 3 employees saying this, but then one of them also said that one could return any past Mandalay Bay chips, and was not aware of Gaming Control redemption notices for retired chips.

This chip remains available, but any potentially acceptable offer must exceed face value.

Thanks for reading this.