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But even the ones that complain still come in and get the chips. Atlantic City is the next most popular specialty, followed by--in no particular order--riverboats, Colorado which legalized gambling in , Indian reservations, cruise ships and non-U. One-dollar chips from the s and s are also surprisingly valuable. Still "Cuban chips are extremely important," says Herz, who in the s created the first museum-quality collection of chips and gaming archives for Harvey's casino in Lake Tahoe. Some collect chips only from California's card rooms, which have been legal since the s. By far, the most popular niche within the hobby is collecting obsolete chips from casinos in the Silver State, preferably those from Las Vegas. Nor do those chips spark the imaginations of collectors the way older, obsolete chips do. The residents were using them for their evening card games. These days, almost everyone who collects casino chips, also called checks or sometimes cheques, has a subspecialty. The few chips that survive today are those that walked out of the casino in patrons' pockets. Anything under 1, you'll have trouble finding, but the value will go up fast. High-denomination chips are particularly valuable to the collector of obsolete chips. People are waiting to see where the price settles. Now, all of a sudden, they say there's too many. Two recent developments have fueled collector interest in casino chips. The first is the steady spread of gambling across the United States. Everybody can buy these chips at face value, and they're beautiful.{/INSERTKEYS}{/PARAGRAPH} Thousands of partiers were gambling in the island's famous Havana casinos--among them the Flamingo, Riviera, Tropicana, Hilton and Capri. For collectors, the most popular Cuban chips are the ones that have the word Havana, or, in some cases, Habana, printed on them. One collector says he found dozens of chips from the Little Club, which operated on Fremont Street in Las Vegas in the s and early s, in the recreation room at an old-age home. The island nation has been baseball crazy since the days when many of the Major League teams had spring training sites there. Most of the illegal gaming in those towns ended in the early s in the wake of hearings brought by Tennessee Senator Estes Kefauver. The Capri attracted many of the Hollywood elite, who were permitted to gamble on the airplane ride from Miami to Havana. Typically, chips become obsolete in one of three ways: 1 the casino that issued them goes out of business--the Playboy casino in Atlantic City or the Dunes in Las Vegas, for example; 2 the casino changes its name or ownership and issues chips under the new name; or 3 the casino changes chip design or manufacturer. Baseball cards, for example, become valuable only after certain star players have noteworthy careers. It was just a place to go to dance and hang out for people of our age. The croupiers' watchful eyes cannot detect every roulette chip that is taken. The reveling ended, however, with word that Cuban President Fulgencio Batista had fled the country, leaving it to revolutionaries led by Fidel Castro and Ernesto "Che" Guevara. The Habana Hilton and Habana Riviera are two casinos that produced chips that have become extremely collectable for that reason. With Senator Kefauver shutting down illegal gaming across the United States, casino owners were left with only two nearby areas in which to relocate legally, Nevada and Cuba. The Fremont Street casino was slots only, except for two weeks when it had several gaming tables. Nearly 30 years later, the value of those chips has been restored many times over. That's not the case with casino chips. For many collectors, it's the hunt for obsolete chips that excites them. The result has been a precipitous drop in prices for Cuban chips. Even the most desired Cuban chips are not immune. Garrett believes there are about two dozen serious collectors of Cuban chips in the United States, though many others count at least one Cuban chip in their collections. As the story goes, the owner of the club fled Cuba within days of the Revolution, bringing with him 60, to 70, of his club's casino chips and stashing them on his escape yacht. Another recent rarity comes from the Club Royale cruise ship, which once sailed out of Florida. While collectors enjoy watching the value of their collections grow, most acquire chips today because they are drawn to the history of towns such as Las Vegas, Atlantic City and Havana. Today, the hottest chip collectible is the limited-edition commemorative chip. Chip collectors typically collect by region, with the most popular being casinos from Las Vegas, followed by other gaming towns in Nevada such as Lake Tahoe, Reno and Laughlin. An obsolete chip doesn't have to be old to be valuable, however. While a handful of enthusiasts around the world collect Cuban chips, it is the modern-day gaming chip, primarily from the post-Second World War era in Las Vegas, that is most prized by the majority of collectors. Today's chips rarely have only the denomination and casino name stamped on either side. With a new government poised to take control of the island in the coming days, Cuban peasants sacked the casinos that had long barred them from entering. New computer-aided design capabilities, laser-etching technologies and manufacturing techniques now allow manufacturers to produce chips with beautiful full-color designs and photographs. These commemorative chips are "live" and can be used at the gaming tables, though they're usually snapped up by collectors within days of their issue. The second reason may be evident to anyone who's visited a casino in the past few years. The Tropicana alone issued approximately 75 different chips between and Of those different chips, however, Garrett believes as many as are unique or nearly unique--meaning only one, or two at the most, have ever been seen in the collectibles market. Many collectors shave their area of interest even finer. Other valuable and scarce pre-Castro chips came from the Havana Yacht Club, considered Havana's premier private social club. That's where I met my wife. Casinos frown on chip collectors taking roulette chips, because wheel chips are worth whatever a player buys in for. The growth of the hobby has been nothing less than unbelievable to longtime collectors, many of whom thought they were the only ones quirky enough to care for little, round pieces of clay and plastic stamped with the names of long-forgotten casinos. The Club Royale sank in after failing to outrun Hurricane Erin, making chips from the ship some of the most valuable Florida chips available today, according to Florida chip collector Mark Lighterman. In the last year or two, however, chips from Las Vegas and Atlantic City casinos have steadily risen in value, while the prices of Cuban chips have plummeted. Most other collectibles lose value after being bought at retail and then may slowly appreciate. When chip collectors talk history, the conversation often turns to the most wide-open gambling town of the s-- Havana, Cuba. The beauty of collecting casino chips lies in their value from the onset. With older, historical chips you think about Meyer Lanskyand the mob. {PARAGRAPH}{INSERTKEYS}It was December 31, New Year's Eve in Cuba. Few Cuban chips are in the hands of collectors today, but many collectors believe that warehouses full of chips could come onto the market should Cuba be opened to the United States. Alhough Trimble admits he's as much at fault as anyone for the glut of chips on the market, it's hard to take offense at someone so enthusiastic about chip collecting. He also operates a retail store in Las Vegas under the same name and his personal collection runs to 10, chips. Others collect chips only from illegal gambling clubs in places like the formerly wide open towns of Newport, Kentucky, and Beaumont, Texas. Because of the casino's popularity, its chips are some of the most plentiful of those from Cuba, though they are found in significantly smaller numbers than those from most popular Las Vegas casinos. Many traditionalists think casinos are taking advantage of collectors by flooding the market with new chips that seem to have little connection to gaming or true commemorative events. When Resorts in Atlantic City introduced colorful roulette chips manufactured by a company called Chipco several years ago, so many chips were taken, or "walked" in the parlance of casino executives, that the casino was forced to remove them from play. Gaming tables and slot machines were avenues. Before commemoratives, casinos would never tell you how many chips they made. The reason, say collectors, is tied to uncertainty over the island's political future. In a month period from January to May , Nevada casinos issued commemorative chips, according to Casino Collectible Magazine. Still other collectors specialize in roulette chips. Garrett buys many of his chips from baseball card dealers who regularly do business in Cuba. It is one of the few places where there was an immediate cessation of gambling--at midnight on December 31st, The Revolution and antigaming sentiment is interwoven. Cuban chips have become prized possessions to many within the expanding cadre of casino chip collectors. But limited-edition chips have also been responsible for a great deal of hand-wringing among collectors. Others get a kick out of owning chips from casinos associated with gangsters and celebrities such as Bugsy Siegel's Flamingo; Al Capone's Floridian Casino in Miami, in which Capone had a partial stake from to ; and Frank Sinatra's Cal-Neva Lodge in Lake Tahoe, which the singer owned from to but sold after voluntarily surrendering his gaming license because the casino was frequented by known mobsters. One of the premier collectors of Cuban chips, Henry Garrett, has traced 80 casinos that existed in Cuba from to Those casinos issued as many as different chips. They had one little craps table and one 21 table. That is because they were not created in great numbers. That period is bracketed by the first hotel and casino on the Las Vegas strip, the El Rancho Vegas, which opened in and closed in , and the strip's latest gaming establishment, New York-New York, which opened in early Ten years ago, casino chip collectors in the United States numbered fewer than Many of them were gamblers who slipped a chip into their pocket as a memento of the action. Garrett also suspects there are many "closet collectors" among Cuban nationals in Florida and elsewhere. Fifty-nine Nevada casinos issued at leastone commemorative chip in , with four casinos accounting for a whopping 36 percent of all commemorative issues: Four Queens, Las Vegas 43 , Arizona Charlie's, Las Vegas 28 , Flamingo Hilton, Laughlin 25 and Flamingo Hilton, Reno The Fiesta casino in North Las Vegas issued the most commemorative chips through the first quarter of 15 , followed by the Flamingo Hilton, Laughlin Collectors say there is a simple reason why Four Queens issued the most chips in and why the Fiesta is leading so far in Gene Trimble, an avid chip collector, worked as Four Queens' chip coordinator before leaving in October to assume the same duties at the Fiesta. For whatever reason, he threw the chips overboard. Thousands of Cuban citizens could have chips stashed away in coffee cans and drawers. Nondenominational chips of various color and design that can be played at only roulette wheels, they are often produced in significantly smaller quantities than other table chips a house may have only or so in each color and design and are used to help identify which player has placed which bet on the felt table. With an estimated 12, legal and illegal casinos known to have operated worldwide between and , according to longtime chip collector and gaming historian Howard Herz, too many variations and denominations exist for all of them to be collected. The majority of all other cards remain worthless.