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Casino Tokens

by Jerry "Jet" Whittaker

March 12, 2006

 

The small colored metal or plastic discs used in gambling establishments are termed and coined as casino tokens. Usually two types of tokens are used in casinos. Chips (multicolor tokens of various denominations) and metal token coins. Chips are used primarily in table games and other variety is used primarily in slot machines. Gaming plaques are also used for high stakes table games by some casinos. These denominations are about $25,000 and above. These plaques differ from chips as they are larger and usually rectangular in shape and also contain serial numbers. There is a section of cashier station called the cage. For the token coins or chips in a casino money is exchanged at the cage, at the gaming tables, and at a slot machine. These tokens do not have any value outside of the casino, but are interchangeable with money at the establishment. For several reasons and functions these tokens are deployed and employed. Tokens are handier to use than currency, and also it is difficult it to steal or counterfeit. The tokens, especially chips are easier to count compared to paper currency when used on a table as they are of the uniform size and also due to their regularity of stacks. This factor also helps to quickly verify the amount being paid and also enables the pit boss or security to reduce the chance of a dealer who might be overpaying a customer. Also according to survey the players gamble more freely with replacement currencies than with cash.

History of casino tokens:
Around 1964, the circulation of silver dollar coins was stopped after the increase in the value of silver. Most of the casinos then rushed to find a substitute. most slot machines of the casinos at that time used that particular silver dollar coin. After consultation with the US Treasury the casinos were soon allowed to start using their own tokens to operate their slot machines. The main and chief minter of tokens at that time was famously known as the Franklin mint.As per many laws the casinos are not permitted to use currency in slot machines. Here comes the role of tokens. Most obviously the chips and other casino tokens are considered to be an integral part of the casino environment. Replacing the casino tokens with some alternate currency would be very unpopular among players. Although, there is trend seen in many casinos, which are moving to paper receipts.

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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