There are a number of situations in which casino chips could be taken out of circulation. These chips are fairly durable and last a long time. This means that they are rarely exchanged for new ones due to wear or damage.
Some casinos have specific regulations with regards to when their chips “expire”. It is usually upwards of ten years after they are made. Casino chips are not frequently changed out for new ones just because they are old, but it does happen. This all depends on the internal rules of the casino. Only the chips that are of a certain age are replaced, as opposed to all of them.
A casino will usually issue an advance warning to players when their chips are going to expire, regardless of the reason. This warning could come weeks or even months ahead of time, depending on the casino.
When a Casino Goes out of Business
If a casino is going out of business, they will destroy all of their chips. Most cities where gambling is legal have strict regulations for how this is to be done. Since each casino’s chips are unique, they cannot be reused for another one.
The Casino Gets Bought Out
These chips can also expire if a large corporation buys out a small casino. When this happens, all of the old chips are usually destroyed. New chips are created with the logo of the current casino. Again, players will almost certainly receive advance notice of this.
If counterfeit chips are discovered in circulation within a casino, they may choose to have all new ones made. This means that all of the existing chips would be destroyed and replaced. This depends on the suspected extent of the counterfeiting, so it varies according to the situation.
A casino will typically try to determine whether or not it is worth the expense before making a decision. This has happened in the past, so it is definitely not entirely unheard of.
It is always possible for casino chips to break from regular use. This usually takes a long time due to the durable nature of these chips. Depending on the extent of the damage, the casino may decide to replace certain ones.
Limited Release Chips
There are quite a few casinos that release special chips for a certain amount of time. This is a little gimmick that that many of the smaller casinos do to attract new players. Due to their limited nature, they can become worth quite a bit to collectors online. The casino will only make a certain number of them for a specific period of time.
A lot of casinos do have expiration dates for their chips, but they typically don’t expire for a very long time. Counterfeiting is sometimes responsible for a casino replacing all of their chips, but it doesn’t happen very often. It is more common for a casino to get rid of their current chips if they are going out of business or being bought by a corporation.