Casino Chips Definition
- Casino Chips Meaning
- Casino Chip Values
- Poker Chips Definition
- Casino Chips Definition Dictionary
- Casino Chips For Sale
- Historically, poker chips were made of bone; however, modern casino chips are often made of clay or a clay composite and are considered the most upscale variety of poker chip; other high-end chips are made of ceramic. Plastic chips are also available, at a wide variety of quality levels.
- Cashier’s Cage: term for casino cash area where you redeem your chips. May you visit often. Casino: origin of the word refers to a public music and dance hall. Casino Advantage: casino or house edge when playing the games, usually reported as a percentage. Example: the casino advantage for double-zero roulette is 5.26%.
Meaning a club or public building where social activities, including gambling, took place.
definition - casino chip collecting
definition of Wikipedia
Advertizing ▼
Wikipedia
Casino chip collecting is the practice of intentionally taking casino chips (also called 'checks') from Casino premises or trading or collecting online, or in person, for the purpose of collection. Casino chip collecting is a variety of exonumia, or coin collecting. Before it became a more serious hobby, casino chip collecting was simply a case of people keeping them as souvenirs from a casino they may visit. The biggest boost to the hobby came with the creation of the online auction site eBay. eBay has now become the most popular way to collect and trade casino chips with listings in the casino category regularly including over 20,000 items for sale.
Casino chip collecting became increasingly popular during the 1980s, as evidenced by the sale of chips through several casino and collecting newsletters. Bill Borland's Worldwide Casino Exchange (early 1980s) had a casino story each issue and dozens of old chips for sale.
Likewise, Al Moe's Casino and Gaming Chips magazine ran for several years in the mid 1980's and attracted hundreds of subscribers. Each issue featured stories and pictures from old Nevada casinos and included photos of old, collectible chips. Archie Black, a collector from Atlantic City, submitted articles about New Jersey casinos.
Black established the Casino Chip & Gaming Tokens Collectors Club (CC>CC) in 1988[1] in response to the continuing evolution and popularity of chip collecting. The club held its first annual convention at the Aladdin Hotel and Casino in 1992. The convention still runs to this day and will take place June 20–23, 2012 at the South Point Hotel, Casino & Spa. It is open to the public on those dates for a $10 daily fee (except Saturday the 23rd, which is free).
As the number of collectors grew, the creation of an official grading system was viewed as being a useful tool in part of the process to help determine the collectible value of the chips, as opposed to the face value they can also represent. In 2003, members of the CC>CC's Standards and Archives Committee agreed on a grading system that would be used worldwide. There are many published price guides, but two in particular are more widely used by casino chip collectors. The Official U.S. Casino Chip Price Guide, now in its 4th edition covers chips from casinos in Nevada, Atlantic City, NJ, Colorado, Deadwood, SD and the several Mid-West States that permit 'Riverboat' casinos. The Chip Rack, now in its 12th edition, attempts to include all chips and checks issued by casinos in the State of Nevada. Some chips are considered high-value and some worth up to $50,000. The largest recorded sale for a casino chip to date is $39,000. Below is the system that is currently used to grade them:
| Grade | Description |
|---|---|
| New (N) | Never used in games; square and round edge chips will be as from the manufacturer with absolutely no wear, no dings or nicks; no scratches on surface of chip or inlay. |
| Slightly Used (SU) | Only slight signs of use, edge still crisp but ever so slightly dulled with very little wear; cross hatching may show slight wear near edge; few or no edge nicks; still retains luster in mold design; bold hot stamp; inlays excellent. |
| Average (A) | Typical chip found in play after months/years of use; slightly rounded edges; will have minor defects such as small nicks on edges; inlays are beginning to show even wear and about half of the cross hatching has worn from the body surface; hot-stamps have dulled, beginning to show even wear and may be missing a small amount of foil. |
| Well Used (WU) | Moderate and uniform wear of edge, surface and hot stamp; noticeable edge nicks and/or surface scratches; no luster in mold design; cross hatching is nearly worn off; hot stamp is still readable but much of the foil is missing. |
| Poor (P) | Edges that were formerly sharp and square, are now well worn bicycle tires; original hot stamp foil is mostly missing with only the recesses visible (may have to hold towards a light); moderate to large chips (nicks); surface cross hatching barely visible (if at all); severe scratches to inlay or chip surface; severe color fading; partial wear up to half of Chipco design from the edge to the center of the chip. Damage, such as cracks, breaks, missing inlay or other chip structure do not apply to this category.) |
| Cancelled or Modified (Can) (Mod) | (Either by the manufacturer or the casino): A. Drilled, B. Notches, C. Overstamped, D. Clipped, E. Bent, F. Painted. |
| Damaged (Dam) | A. Severe nicks or chunks, B. Loose or missing inlay, C. Cracked, D. Broken, E. Warped, F. Permanent Stain, G. Severe Fading, H. Cigarette Burn(s). fire damage, I. Over-cleaning. |
As well as the system for grading chips, there is also a system for identifying chips shown below:
| Issue | The chronological order in which the chip was issued. |
| Denomination | Refers to the dollar amount of the chip. |
| Basic Color | The base color for most of the chip. |
| Mold | Identifies the look/manufacturer/distributor of the chip. |
| Inserts | The different color patterns used on its edge. |
| Inlay | Refers to the size and shape of the inlay, as well as composition and color. |
| Rarity | The best estimate of the number of surviving chips of its kind known to exist. |
Casino Chips Meaning
There are many different ways to collect casino chips. Because of the amount of chips available and the increasing price of some, collectors have begun to specialize. A collector might choose to collect every chip from a certain casino or one from every Las Vegas casino. Collecting by denomination is also very popular, such as only $1 or $5 chips. The first rule of proper care and storage is to keep them away from sunlight, the same goes for fluorescent light. The best way to store a collection is to keep them in a folder. As opposed to coin collection, cleaning the chips will not decrease their value but is still not recommended unless really necessary. Chips have inlays and hot stamps on them which can get unreadable over the time if they are not maintained properly. The hot stamps and the inlays of the chips are what determine their value so it is very critical to ensure that these are not severely damaged while handling them. Collectors especially should be careful and maintain their rare chips effectively to keep their value intact.[2]
References
1. History, CC>C 17 Jan 2010
- ^http://www.ccgtcc.com/ccgtcc_history.pdf
- ^'Cleaning Chips'. http://www.casinochipsworld.com/cleaning-chips.htm. Retrieved 2011-06-01.
External links
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
The casino cashier’s cage is the operational nerve centre of casino operations. As a hub of activity, it performs many vital functions on a shift-by-shift, day-by-day basis. First, the cage, together with the vault, is responsible for the custodianship of and accountability for the casino’s bankroll. This involves the daily care, control, and accounting for thousands, hundreds of thousands, and even millions of dollars. After all, this is the casino industry we are talking about, with many high rollers playing for big money.
What is a Casino Cage?
To break things down, all transactions involving currency, coin, casino checks (chips), customer casino markers (IOUs), safekeeping funds, and customer front flow money to and from the cage and its related vault in a continuous cycle. Firstly, accurate recording procedures and adherence to sound internal controls are required to ensure bankroll safety and accountability at online casinos. Secondly, the cage provides a vital communication link to the casino pit or pit areas.
Services include providing check fills and credits to table games, as requested; supplying information regarding customer credit status; providing financing tabulations of table game activities documented by the master game report form; and keeping casino supervisors advised of the relevant information required for a smooth operation.
Thirdly, the cage deals with countless customer transactions. Front-line window cashiers handle casino chip exchanges for currency; cash personal, payroll, and traveller’s checks; handle customer safekeeping and 'front money' transactions; receive customer marker payment; deal with casino promotional coupons, and provide information to customers.
The Cashier’s Job
The main job of a casino cashier is to exchange casino chips for cash whenever the players bring their chips from tables like blackjack and craps. It is the cashier’s job to greet the player, take the chips, break them down by denomination and pay the player the right amount. If the total being paid out is quite high, a casino supervisor may be called to verify the payout before the cashier transfers the money to the player.
While errors rarely happen during this process, it is possible, therefore, cashiers but be diligent and efficient when they handle casino chips as you wouldn’t want either the casino or the player losing out. Cashiers would need basic math skills as well as the ability to distinguish the different chips used by the casino. If the casino makes use of slot machines that require players to insert coins, the cage and cashier will also have to accept and exchange these coin buckets.
The coins are taken to a coin sorter with the player in attendance, where the coins are counted. The total amount will be shown on the machine reader, and the cashier must pay this amount to the player. This not only saves time as the cashier does not have to manually count the coins but also prevents errors from taking place.
Cage cashiers must also handle a certain amount of paperwork when dealing with daily transactions, including balancing books and invoices. Cashiers may also need to run internal checks on gamblers who require credit or to process credit applications for new customers. They may also need to assist with cashing in tips for fellow employees.
It is important that the cashier have good people skills as you will be working with gamblers all day long. Cashiers must be able to satisfy the needs of all players, and be able to handle any negative or hostile situation that may arise. People may get antsy when money is involved, so it is important for cashiers to be able to control the situation and sort out any issues immediately and in the most professional manner. Many gamblers enjoy drinking while playing, therefore cashiers may also have to deal with intoxicated customers. Cashiers must be aware of all the relevant rules and regulations associated with the casino and gaming industry and be able to explain them when the situation arises.
Casino Chip Values
The Blood Line of the Casino
Fourthly, the cage interfaces with virtually every casino department--- for example, transmittal of key forms to the accounting department; involvement with the hard and soft count audit teams; receiving and issuing cashiers banks to casino revenue departments (bar banks, showroom banks, Race and Sports Book banks, hotel front-desk banks, etc.); and working with the security department during the table game fill and credit process.
In some casinos, the cage supports the slot department by providing slot fills, supplying change persons with requested coins, and providing large jackpot payoffs. The cage is also charged with the responsibility of preparing and maintaining countless forms required for sound internal control procedures and safeguarding the casino's assets. Additionally, compliance with requirements and procedures of the Bank Secrecy Act is a critical responsibility of casino cage personnel. However, many casinos locate the cage toward the rear of the casino property and away from customer exits.
Keeping it Safe: Window Cage Security
One reason for this is to minimise the chances of a successful cage robbery. A second reason for locating the cage in the rear is the psychological factor. A customer cashing out at the window must walk the length of the casino toward the exit. The temptation of 'one last slot pull' or 'one final play at the table' can decrease the amount of money the customer takes out the front door. A third consideration is the location of the pit or live gaming areas. There are a number of structural possibilities for the cage facade. Metal bars, others by Plexiglas or shatterproof windows, protect some cages.Poker Chips Definition
Still, others are 'open' cages with no protective barriers. It all depends on the environment and management's perceived need for physical security. A small cage operation will typically offer two customer service windows and an additional window to service casino, slot, or employee requests. The larger the operation, the more service windows required, but keep in mind that customers do not to stand in long lines to cash their chips. It is better to have too many operational windows and window cage security than too few.
Casino Chips Definition Dictionary
Casino cage operations and cashiers may not be necessary for the future as more and more casinos are now using coinless slot machines, which has made things a lot easier. With no coins to count, things are less likely to go wrong, fewer employees will be needed and there will less room for error. Some slot machines print out a bar-coded voucher instead of coins or cash that can then be cashed out ATM-type machines or at the cashier cage.
Casino Chips For Sale
The bar-code will indicate a legitimate voucher and is read using a reader, which will reveal the amount the player must be paid. The casino cage is one of the most important and highly functional aspects of a casino and needs to be treated as such. It is important to be respectful and civilised to your cashier at all times. Whenever you visit a casino, make sure to adhere to the rules of the establishment so that everyone can have an enjoyable experience.