Chinese New Year Chips

People generally fall into one of two categories - those who enjoy collecting various items and those who are not inclined to do so. I clearly belong to the former group. I've never really considered the advantages and disadvantages of starting a collection. If I had, I imagine the reasons against it would be considerable. Unless the joy of collecting can be quantified, I wouldn't advise anyone to start a collection. It's common to end up spending excessive amounts of money, time, and space on items that likely will decrease in value and that your children will eventually sell off for a fraction of what you originally paid.

However, there must be some value in my collections, as I've gathered quite a few items over time. My largest collection, by far, consists of license plates . Nevertheless, I also actively or previously collected items such as:

• Coins (inactive)
• Stamps (inactive)
• Casino chips
• Identification cards
• Dice (inactive)
• Commemorative Medals from Presidents
• T-shirts/sweatshirts
• Pre-1965 Playboys

A significant portion of my casino chip collection is dedicated to $8 Chinese New Year commemorative chips. For a chip to qualify as part of my collection, it has to commemorate the Chinese New Year and be priced at $8. The number eight is particularly significant because its pronunciation in Chinese is similar to the word for 'wealth.' You can find the number 8 prominently displayed throughout Macau. While there are numerous Chinese New Year chips available in other common denominations, usually at $5, my focus remains primarily on the $8 chips, particularly those linked to $4/$8 poker.

The oldest $8 Chinese New Year chip in my collection dates back to 2001, although earlier ones exist. I believe the first casino to release such a chip was the Las Vegas Hilton in a limited run during the 1980s, though I might be mistaken. Overall, they didn't become widely popular until the mid-2000s, and even then, only select casinos issued them. In Las Vegas, notable casinos that produced these chips include the Wynn , MGM , Venetian , Palazzo , Palms , Palace Station , and Bellagio . Most were created in the large baccarat size.

Wynn

MGM Grand

The production of these chips came to an end in 2014 when the Nevada Gaming Control board prohibited their use. As I understand it, the rationale was that chips should be used for gambling, and few people were actually wagering with the $8 chips. Personally, I disagree with the regulatory stance. The cost to produce a casino chip without an RFID microchip is only about $1. This means the casino earns $7 per chip sold, while customers are quite satisfied too – a true win/win situation. Perhaps it’s for the best since the chips I currently own seem to have appreciated in value, with many fetching between $15 and $25 on eBay.

As with many of my collections, my Chinese New Year chips lack proper organization. I attempt to separate them by year, but I often find them misplaced. I would love to display them in cases, but I'm struggling to find suitable displays for the large baccarat-sized chips. Here are a few examples from the two casinos that I believe produce the best chips, showcasing both the front and back designs.

In my forum at Wizard of Vegas, one of the longest discussions revolves around Casino Chip of the Day . Several of my members are also casino chip collectors, most of whom aim to gather a chip from every casino they visit. I previously shared information about Chinese New Year chips, starting from this particular post.

Finally, here is an article from the Las Vegas advisor discusses the discontinuation of the $8 Chinese New Year chips.

This serves as an introduction to the $8 Chinese New Year chips. If you have any suggestions for topics to cover in future newsletters, don’t hesitate to reach out to me. There are times, like this week, when I find it challenging to come up with fresh content.

Written by: Michael Shackleford