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 Replies: 13 / Views: 1,661 |
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Pillar of the Community
United States
1391 Posts |
I was reading an article ( http://coinsite.com/tokens-the-peoples-money/) and saw this: "Not too long ago, Las Vegas gambling tokens had become so generalized that they were being used interchangeably at any casino, not only for gambling, but also for any purpose in this city. This practice was quashed." Does anyone know anything about this assertion? It isn't sourced and am curious if there is any more info. |
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Pillar of the Community
United States
7618 Posts |
Maybe some Vegas old timer will show up and explain this token usage thingy to us.
I've been going there since the 1990's and there are signs at most of the cash registers saying that gambling tokens can only be used for gambling purposes. Something about "Federal Law". (The guvment don't like competition!)
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Pillar of the Community
 United States
2448 Posts |
You can still get a bunch of different tokens in the Dollar slots on a pay-out. As much as things change, they remain the same. However, I do remember a friend of my telling me that the Casinos used to send runners to different casinos for reimbursement of different slugs they took in from payinf-out slot cash outs. As long as the weight is right the machine doesn't know any better. I liked it better when they operated on silver dollars. There's the sound of slugs hitting the pan and then there silver....aaaaahhhh those were the days!
Edited by carmykle
02/06/2015 3:50 pm
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Bedrock of the Community
United States
17884 Posts |
Back in the 1960's when the silver dollars dried up and before the Ike came along the casinos began making their own chips. And since tourists moved from one casino to another they would often use the chips interchangeably and they also used them to tip waitresses, bellboys etc like you would coins or bills. The casinos permitted this and would redeem each others chips. The the government stepped in a said this was a violation of the law. The law does not allow you to make a coin, check, token etc to be used to circulate as money. As long as a casinos tokens stayed within the casino it was OK, but once they began circulating back and forth between them it was illegal. So the casinos had to agree not to accept each others chips.
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Moderator
 United States
188213 Posts |
Interesting read. I especially enjoyed Conder101's additional information.
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Pillar of the Community
United States
619 Posts |
I would love to be able to go to Vegas in the silver dollar days! One of the reasons I collect is because my great aunt and uncle used to go to casinos and bring silver back. My parents and grandparents were given it as gifts. I played with it as a kid, and have been fascinated with silver ever since. I still have one of their Peace dollars! Edited by CPC24
02/09/2015 11:47 am
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Valued Member
United States
113 Posts |
I love this thread! We still have a variety of the 10 dollar gaming tokens that we take out of storage and look over every so often to remind us of our visits to Las Vegas.
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Valued Member
United States
113 Posts |
This is my first time uploading an image. Did it work?  |
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Valued Member
United States
113 Posts |
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Moderator
United States
188213 Posts |
Very nice!  |
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Pillar of the Community
United States
4883 Posts |
Quote:
I love this thread! We still have a variety of the 10 dollar gaming tokens that we take out of storage and look over every so often to remind us of our visits to Las Vegas. I had recently started a thread on this very topic - https://goccf.com/t/196138Colligo ergo sum
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Valued Member
United States
113 Posts |
Lucky, I will upload individual pics to photobucket and post on that thread. We have some cool ones.
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Pillar of the Community
United States
9792 Posts |
Don't know much about the merchants accepting the tokens, but I would imagine many did at least through the 1970's. I do know towards the end of silver dollars being used in Las Vegas, and towards the end of silver in coinage, when the Morgan dollars were being distributed the casinos, realized they were disappearing from the slot machines to the collectors that knew many of them were worth more than face value, the casino began the practice of defacing the date off the coins with grinder discs.  Wonder how many semi-key dates and key dates were trashed forever by that practice?  "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Moderator
United States
188213 Posts |
Quote:
...the casino began the practice of defacing the date off the coins with grinder discs |
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Replies: 13 / Views: 1,661 |
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Posted 02/06/2015 3:49 pm
