What do Vegas Casinos do With Discontinued Casino Chips?

Key Points:

• Historically, old casino chips were discarded “where they wouldn’t be found” in the depths of Lake Mead, mixed into the concrete of new casino foundations, etc.

• Today, there are strict regulations that require casinos to destroy them in a less romantic way.

Las Vegas Casinos introduce new chip designs from time to time to combat counterfeiting, adjust branding, and ensure their internal currency isn’t getting too “grubby”.

So what happens to old chips when they are replaced by a newer model? It’s handled differently (and much less interestingly) today than it was historically.

New Chip Approval Process

Today, the approval of new chip designs, as well as the disposal of what they are replacing, are regulated by the Nevada Gaming Commission’s Regulation 12.

Casinos must submit for approval a drawing of the new chip’s design to include details about security features. Regulation 12 also stipulates the exact dimensions that chips must adhere to as well as information that is to be displayed on the chip such as denomination, location of the establishment, and the chip’s manufacturer.

The chip’s denomination must also be distinguishable via black and white closed caption TV from the side when stacked with other denominations.

See Also: Find coin-operated slot machines in Las Vegas!

Modern Chip Disposal Rules

There are also specific rules casinos must adhere to when it comes to retiring a set of chips. The establishment is required to allow redemption of the discontinued chip for 120 days either at the casino or at another approved location.

During that 120-day period, the casino must post a discontinuation notice where the chips can be redeemed in addition to posting 2 times per week in 2 separate Nevada newspapers that are in general circulation.

Today, plans for destroying discontinued chips need to be approved by the board and are much less exotic than what occurred prior to Regulation 12. Nowadays, discarded chips are typically crushed to an unrecognizable pulp.

History of Chip Disposal

So what happened before the fun was sucked out of chip disposal? Well, it was the wild west and the aim was to dump them where they wouldn’t be found.

During the course of demolition projects, vintage retired chips were discovered in both the Dunes and New Frontier concrete foundations. In fact, chips from as far away as Laughlin were found in the concrete that made up the New Frontier’s foundation during demolition.

Below is a concrete chunk from the New Frontier’s foundation featuring a token from the Pioneer Hotel and Casino in Laughlin that I recently added to my collection.

Divers have also uncovered chips at the bottom of Lake Mead that were later found to have belonged to the Las Vegas Club by Mike Spinetti, Owner of Spinetti Gaming Supplies. Spinetti’s is also where I procured my chip-laden chunk of concrete.

I also recently came across the below display at The Mob Museum, which showcased chips from The Sands that were found in concrete.

It’s fun to imagine what additional relics from the past could turn up as Vegas continues to reinvent itself. An endless list of potential hiding spots exist where yesteryear’s casino executives could have stashed additional dig chips.

As Nicky Santoro said in the movie “Casino” – “A lot of holes in the desert, and a lot of problems are buried in those holes”. Nicky, of course, was referring to bodies and we’re talking about casino chips.

I’m excited to see what is unearthed next.

See Also: Historic things to see on Fremont Street.