Showboat Casino, How High Will It Go? (1 Viewer)

[luckbox]

Well, that could be true, if only ~$30k was the right price for it. When the 1st chip was bought, there were only 2 known samples. The rarity is what drove the price up. Guy probably bought it as the “ultimate” rare chip for his collection. With that kind of price, it’s probably the only one most people will see in their lifetime.

Except it wasn’t. The chance of another chip surfacing is very low, if indeed there were only 2 out there. And if a second one surfaces, what’s to say another one wouldn’t come out of someone’s basement in another couple of years? Then, with 10, 20 of these chips trading, they’re not really worth $30k/chip anymore. The bidders of the second chip knows this, hence the price did not go as high as the original one.

The reference price of this chip is now ~$16k, and people will look for a discount from that benchmark when the next one comes up.

In auctions for rare items that are in demand, most times it works like this. The first one usually fetches the best price, because it’s seen as the “only one.”

EDIT...ok i had to re-think it...you are correct but with the chip market the threat of others being out there probably never goes way does it? that is the risk, so why do you take that risk? or the first guy said screw it i dont care i want it and took the risk, and has a loss (for now money-wise) but he still has 1 of 3 ...

other markets i do agree that i dont care to purchase another after i have one, such as a piece of art....dont really care since i really like the art first and the price i paid is secondary as an investment...i guess it works for chips also

 

[luckbox]

How do we know if the ones for sale are new discoveries or if they are just the known chips trading hands? I'm obviously not in the market and don't know much about these types of situations that involve uber-rare and/or high-end stuff.

i would guess with that scarce of a chip they guys over at the chipboard know who bought or sold most of the high end stuff maybe...im goin over there to see what i find

edit: less over there than here...go figure:

 

[Thomacetti]

I do see an upside in collecting chips like these vs sets (like we do)...

ME: Hey wifey, I didn't buy a 1000 chip set, just one chip.

SHE: That is great, finally you have come to you senses...

BUT THEN....

SHE: how much was it ?

Me: Euh.... +15K but shipping was less then a fiver

 

[AfterTheFact]

So I found a quick backstory on these on TCB.

Seems they were put into use for only a few hours in the 50's and were quickly confused for $5 chips. They were pulled and destroyed after only a few hours of use. Two were missing.

Sounds logical.

 

[gmunny]

i would guess with that scarce of a chip they guys over at the chipboard know who bought or sold most of the high end stuff maybe...im goin over there to see what i find

edit: less over there than here...go figure:

As an FYI, the people that would know this info, usually don't post on TCB. They do read it, but most of the high end collectors or dealers rarely post. FWIW, there are probably < than 50 collectors that will pay 4 figures for one chip, those that will pay 5 figures, that number goes down considerably, probably less than 10.

Here is an article about 2 chips that were sold privately this past year. One sold for $75k and the other for $52k. I need to hit Power Ball!

http://www.coinworld.com/news/us-co...-coin-world-coin-collecting-casino-chips.html

 

[luckbox]

As an FYI, the people that would know this info, usually don't post on TCB. They do read it, but most of the high end collectors or dealers rarely post. FWIW, there are probably < than 50 collectors that will pay 4 figures for one chip, those that will pay 5 figures, that number goes down considerably, probably less than 10.

Here is an article about 2 chips that were sold privately this past year. One sold for $75k and the other for $52k. I need to hit Power Ball!

http://www.coinworld.com/news/us-co...-coin-world-coin-collecting-casino-chips.html

that i can understand.....i sure as hell would not be posting "hey look what i just sniped a $30,000 chip for $16,000 on eBay!!! whoooo hooo! "....ok maybe to a few close friends

you know the one thing that would still make me hesitate on those upper end chips is the fact that i would guess quite a few were produced and the casino closed after a few years, only one table and all destroyed but that destroyed part is the unknown...such as the digs where thousands of chips were found buried....that could kick you in the nuts after spending 5 or 6 figures, what was the penalty if chips were not destroyed? the variables could go on forever.....

other collectibles you might fine better value, such as vanGoh only had 2 ears so if i bought the one he cut off, there is only one other out there, prolly buried with him...extreme scenario but you get the point

 

[luckbox]

So I found a quick backstory on these on TCB.

Seems they were put into use for only a few hours in the 50's and were quickly confused for $5 chips. They were pulled and destroyed after only a few hours of use. Two were missing.

Sounds logical.

so maybe there isnt a rack floating around...if true, the second chip was a bargain