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Rule of thumb for $$ to spend on poker chips? (4 Viewers)

LowerBama1714 said:
My kids aren’t going to college….I made that decision when I bought tigers.
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Yeah, no joke. I think that was one of the things that ultimately made it a no-go for me. I just couldn't justify it for my own budget. And you just have to be okay with that. You have to be okay letting a set go when you know that it's not the right move financially.

@elemeno In this case, I could have sold a whole bunch of chips that I have to make it happen, but it wasn't what I really wanted to do. I passed up on $6 to $7 a chip and I think it was the right decision for me personally.

And still, every time I see pictures posted, my stomach turns that I didn't buy a secondary set.

... Now where's that January cards mold thread... I need to feel better and the only way to do that is an impulse buy at 40 cents a chip.
 
BearMetal said:
Yeah, no joke. I think that was one of the things that ultimately made it a no-go for me. I just couldn't justify it for my own budget. And you just have to be okay with that. You have to be okay letting a set go when you know that it's not the right move financially.

@elemeno In this case, I could have sold a whole bunch of chips that I have to make it happen, but it wasn't what I really wanted to do. I passed up on $6 to $7 a chip and I think it was the right decision for me personally.

And still, every time I see pictures posted, my stomach turns that I didn't buy a secondary set.

... Now where's that January cards mold thread... I need to feel better and the only way to do that is an impulse buy at 40 cents a chip.
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Well said…the colors…the spots…etc. I am glad with my decision…and they replaced my wife’s family heirlooms in our living room.

Just like they replaced my kids hopes of going to a non-state school…
 

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elemeno said:
I guess this is what I struggle with and that's why I tried to see if there's a rule of thumb. What I can afford and what is reasonable to spend might be different figures. For example, someone's net worth is $10 million. She can afford, easily and with room to spare, $1 million in chips, but most would not say it's reasonable to spend so much on chips.

Anyways, I must have asked a dumb question because I'm getting laughed out of the room! I promised I searched around and couldn't find anything about the subject.
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It’s not a dumb question, there just is no rule of thumb. Even the engagement ring slogan is nothing more than a marketing ploy by a diamond seller. Treat it like gambling at a casino, only bring to the table what you can afford to lose and you’ll be fine.
 
elemeno said:
I'm new and honestly bewildered at the prices of some of these poker chips. They sure look nice, but it's a bit hard for me to swallow $5 PER CHIP!

I'm trying to come up with a rule of thumb for what an acceptable amount to spend on poker chips are. As an example, I've read that one shouldn't spend more than 1% of annual salary on a watch, an item that is quite comparable to poker chips. They're both not a necessity but also nice to have. Another barometer for how to set a budget is % of net worth.

What percentages do you think are reasonable to use for annual salary or net worth? Are there other rules of thumb that this community likes to use?
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Dude... I've been doing this for longer than some of these guys have been alive, and you're not alone being bewidered at the prices these days. To answer your question, there is no rule of thumb. Spend what you are comfortable with. That 1% rule is for reasonable people, the people on this site are on a boat that left that harbor years ago. I'm sure that some are spending north of 10% and I wouldn't be surprised to hear that some are up near 20% on chips and eating Ramen.

Do NOT think of chips as an investment. It is much more of a gamble than investment. In the end if you break even, you are doing well.
 
LowerBama1714 said:
Well said…the colors…the spots…etc. I am glad with my decision…and they replaced my wife’s family heirlooms in our living room.

Just like they replaced my kids hopes of going to a non-state school…
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We are going to art school, now…
 

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Moxie Mike said:
Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?
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There’s custom dice!?!?

I skipped a step. I’m starting over.
 
Moxie Mike said:
Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?
Click to expand...
I think I’m right before “sells chips to buy chips” phase.

And i told myself, only buy/no sell. We’ll see what happens.
 
elemeno said:
I'm trying to come up with a rule of thumb for what an acceptable amount to spend on poker chips are.
Click to expand...
It's a good discussion point. Substitute the words "poker chips" with other hobbies & interests like: golf, bourbon, skiing, guns/hunting, trips/vacations, expensive shoes, memorabilia/art, etc. Is there a rule of thumb answer to any of those things -- I don't readily know of any.

Just speaking from personal experience, I used to golf and buy mid-range Scotch, but I haven't golfed in years, and drink a lot less than I used so, and I don't have other expensive hobbies, so I basically see collecting poker chips as 'replacement' spending for any of those other hobbies.

Since your new here, the video in this thread can offer some perspective:
https://www.pokerchipforum.com/threads/and-people-think-were-crazy.14514/
 
kmccormick100 said:
We'd all only be wearing Seikos and Citizens haha.
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Interestingly, this is the most popular watch brand among millionaires...who mostly became wealthy by ignoring ridiculous rules like spending 1% of income/net worth on a piece of jewelry that tells time :LOL: :laugh:.

Personally I fund all of my poker purchases solely on winnings. Got a 1200 pc CPC cash set, 1200 pc card mold tourney set, 30 dog roller, new table felt, racks, birdcages, cards and buttons etc.

Next purchases are going to be a small travel cash set and a 5' round table topper since I am starting to overflow my single table game :)
 
BearMetal said:
Yeah, no joke. I think that was one of the things that ultimately made it a no-go for me. I just couldn't justify it for my own budget. And you just have to be okay with that. You have to be okay letting a set go when you know that it's not the right move financially.

@elemeno In this case, I could have sold a whole bunch of chips that I have to make it happen, but it wasn't what I really wanted to do. I passed up on $6 to $7 a chip and I think it was the right decision for me personally.

And still, every time I see pictures posted, my stomach turns that I didn't buy a secondary set.

... Now where's that January cards mold thread... I need to feel better and the only way to do that is an impulse buy at 40 cents a chip.
Click to expand...
Just come up the NJ Turnpike and play with mine...
 
Sure, always remember the Greek saying "death suits have no pockets"
No money, poker chips, golf clubs, bourbon or wine bottles, can be carried to the world below (or above, you name it). :)
 
But yeah, don't lose your shirt here. Only spend what you can afford. Don't come into this place with the "keeping up with the Jones'" mentality. Go for what you like/love and can get with your disposable income.

Have to respectfully disagree with those that say that buying the top end chips isn't an investment. The nice BCC, TRK, and Paulson sets are meant to be enjoyed and played, but if one ever decides to move on from them, they'll easily get their money back and then some if desired. China clays, stock clays, and ceramics will lose value from the point of purchase. Really personalized customs also won't hold value, though those with broad appeal will. It's a finicky market to figure out, but once you get it, you understand. That said, there's tremendous value to be had if you're patient.
 
Moxie Mike said:
Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?
Click to expand...
This was an amazing read! Thank you!!!
 
Colquhoun said:
I'll also note that the longer you stay here the more your tastes in chips will change.
What seems great now will likely be much less favorable in a year.
That's why you see so many people changing their minds on sets so often. Everything here is fluid.
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100%. Not everyone likes the same thing. There are lots of chips that have pretty broad appeal, but not everyone will like what you like, and vice versa.
 
cpac54 said:
Wait, you guys are setting budgets for your chip purchases?
Click to expand...
If you don't set a budget you won't know how many multiples you have gone over it.

LowerBama1714 said:
Don’t EVER tell your wife what you spend….and don’t forget to buy her stuff to distract her.
Click to expand...
THIS ^^^^^^^^ and don't let them trick you into telling them. No matter how much they make you think they'd be ok with how much you spent on a chip, THEY WON'T! "500 chips are only $29 at Costco BTW".
 
Moxie Mike said:
Welcome. No one is laughing... you can spend as much or as little as you want on chips. There's no 'rule of thumb'.

If you stick around, you'll see that the typical evolution of a chipper goes something like this:

Discovers PCF.
Sets a budget.
Finds something suitable within that budget.
Makes a purchase.
Keeps browsing PCF (this is where people really get in trouble).
Buys more chips as a project.
Realizes spouse does not monitor the PayPal account or get notifications about transactions.
Sells chips to buy chips.
Sells chips to buy more chips.
Gets used to odd nomenclature like 'murder' and 'watermelons'.
Discovers 'cards mold'.
Keeps hearing about this mysterious woman named 'Tina'.
Uses the PCF search function to research 'Tina'.
Runs out of room to store poker chips.
Realizes they have many unfinished 'projects'.
Sells abandoned 'project' chips to buy more chips.
Realizes they don't have a 'limit' set.
Immediately rationally concludes that almost no one needs a 'limit' set.
Starts assembling a 'limit' set.
Asks around to find out if anyone like to play limit.
Discovers that there's a PCF vendor that sells custom table layouts.
Discovers that there's a PCF vendor that sells custom dice.
Immediately rationally concludes they have no need or use for dice at all, let alone custom ones.
Buys custom dice.
Starts feeling 'complete'.
Then meets @Ben8257 & @Windwalker and realizes they need to up their game.
Sells everything to buy 'Boat chips'.
Sells 'Boat chips' to buy 'Tiger chips'.
Finally feels up to speed as a rank and file member of PCF.

Did I miss anything?
Click to expand...
My journey was more like this, to the best of my memory...

Oh cool, a forum dedicated to poker chips. I'd like some different chips for my home game, let me sign up!

These Majestic china clays look cool, nice colors and denominations on the chips, awesome!

The edges of the Majestics are too rounded, I want something with more of a squared off edge like the chips at the casino. What are those chips? Paulsons? How do I get my hands on those? Look up the Chip Exchange and see he has old casino chips, wow! Let me get some!

Wow! Real clay chips! But geez, these are dirty! Let me read a thread on how to clean gunked up chips. Ok, these are pretty clean, but they're a bit rounded off and don't really have square edges. *reads around about where to find new clay chips* Oh wow! Key West CPC chips are a bit costly, but if they're new clay chips, where can I go wrong?

Ok, these Key West chips are nice, but oh, CPC makes custom chips? I want my own! I really do miss the bright colors of the Majestics but I want something different. Oh, they make oversized 44mm chips! Sweet!

*Next, discovers plastic playing cards and all of the different varieties and manufacturers, going down another rabbit hole*

Oh wow! These Jack Detroit chips are really nice, and they're new and never played from a casino that never opened! Let me sell my old beaten down Paulsons and spend the next 6 months acquiring the set I want rack by rack at secondary market prices!

Ok, COVID pandemic hit and I'm still going to work. I have a bit more money to play with! I need my own actual poker table! Done!

These dealer buttons are awesome! I need over 200 of them. Gotta collect them all!

I really like the oversized bright color CPC set I got, but I also host tournaments, plus I want chips with my custom edge spots on them. Alright, let's do it! But geez, this is expensive. Guess I have to let go of the Key West chips....

I've been reading about BCC clay chips now, let me check those out....oh, what's that? A set in which only 10 were made all time appears on eBay when I happen to sign in? Mine! Oh crap....these chips feel great....I need more BCC chips.

What are these leaded THC molded Paulsons I've read about? Gotta check 'em out. Oh wow! I love these CDI's....need a cash and a tournament set because I host both...

Protege's? There we go! But the MGK mold looks really nice! Oh well, down another rabbit hole, and another search....

ESPT Paulsons? Oh....my.....god. Need a set and this is my biggest purchase yet....I really like these bright colors....

Oh boy, these CPC customs came out great! I have another awesome idea for a custom set! Gotta get a cash and tournament set of these too and work on a cash set of these first customs.....oh....hotstamps! I don't have those! Let me make a custom hotstamp set! I have a newfound appreciation for everyone's custom sets. I would love a sample set of all of them!

WAIT! I don't have a limit set! Gotta make sure the next CPC set can accommodate a limit game! Sweet, got 8 racks, enough for a single table dealer's choice cash night. But what if we play more than a 2/4 limit game? I'm going to need at least 8 more racks....

Wow! These RPC chips sure look nice, but boy, are they expensive! Maybe if I pick 2 or 3 of the ones I like most I can make a set out of them if I remove the inlays...

Oh! Custom dice! Yes please!

Ok, things are pretty calm! I have yet a third idea for a fully custom CPC set, let me work on this and.....OH MY GOD! TIGERS! Best cash set I've ever seen! These chips shit all over my RPC relabel project, but I removed inlays of all 600 chips for that set by hand and got the inlay artwork done. I still don't have the labels yet, better see that one through...

So yeah, that's where I'm at. I like a little bit of everything. Ceramics, non leaded Paulsons, leaded Paulsons, custom CPC chips on different molds with different themes, BCC chips on different molds, these are the best feeling of anything! I really like bright colors though! I do have sets with "standard" white $1, red $25, green $25, etc chips, but the brighter the better. The design choices in my CPC custom sets reflect this. And I collect dealer buttons, sample sets, cut cards, and plastic playing card set ups.

My name is Joe, and I'm a chipaholic that's sick in the head.
 

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