CHIPPER MEL'S MEMOS:

HARRAH'S 1990 CHIPCO SAILBOAT -

A MILESTONE IN CHIPPING!

In 1990 chippers had experienced only 2-3 years of exposure to the network of chip collectors. Established through the birth of the CC & GTCC., there were less than 300 members and mailing the "news" cost around $50 for 230 pieces . Our faithful Archie did most of the work to keep the "hobby" alive. I joined as member #291...

Most of us had collected and played with chips that were fairly plain, some looked like unbaked cookies, and a crest and seal was considered "ornate". Casinos that put pictures of their sign or marquee were "works of art" and if so much as a trout was depicted; it was a very different collectible. Then along came the name "Chipco".

After some spurts and starts, failures and successes; the company, located in that "hotbed of gaming" , Windham ,Maine; made the first "different" gaming cheque for Nevada. Before and after gaming was legalized in Nevada, gamblers were using chips made by a very few companies that usually were out of state, and generally of the same materials...basically clays and plastics. This new chip was different in that it had a full face of colors, design and a plastic that reflected modern times were coming. Under the registered Pro -Tech name, the idea of promoting a high quality, long lasting, gaming chip was not unique; except that this was the first chip to become a collectible designed to leave with players at a profit.

Our chipping Guru, Howdy Herz had just published an article "Untangling the Mystery of Gaming Checks in the Casino Chip and Token News in early 1990 when we were all discussing this new "collectible". The term commemorative was hardly in our chipping lingo yet. Little did Howard or any of us realize that this new style and marketing ploy would change the world of chip collecting forever. He had just untangled the first 40 years of chip definition and I am still waiting for him to untangle everything since the Sailboat from Harrahs floated into Lake Tahoe.

Harrah's Tahoe ordered 100,000 of these with the face value of $500,000. That was quite a bold move in those days. Their inventory of brass core chips from Reliable were still very popular and destined for at least 20 more years of use. Since I was involved with their brass core chips, I was very concerned about why they ordered these new "pretty" chips and , to this day, have never had a clear answer. The chip collecting world responded with a wave of buying a current issue that had not previously been experienced. Our club voted it the "Chip of the Year" for 1990. Everyone seemed to want it for their collection even if they did not collect Tahoe. I even bought 10 to trade and try to keep two or three for future collectors. I even had the audacity to charge $2 over the face value!!!

Within, two years, other Northern Nevada casinos followed suit with a few New Years chips and then National Air Races chips in Reno. They all sold fairly well, but the casino controllers never considered the extra income being significant, compared to their main focus of gaming profits. I took a Summer vacation in 1992 to visit the Chipco plant and also meet the last Burt of the predecessor Burt Company in Maine. By then, even the Indians in Minn. and Midwest had Chipcos. Deadwood loved them and produced some of the prettiest chips we had ever seen. They were here to stay.

In early 1993, I was attending a meeting at Harrah's concerning chips and it was mentioned that a load of Bill Harrah's old stuff had been sent to the incinerators and not only all the old chips, but their entire inventory of Sailboat Chipcos were destroyed. It seems the bean counters did not feel the requirements of keeping almost a half million in cash on hand for the Sailboats was worth the profits of some $4.20+ per chip .. They had destroyed $496,000 worth of "collectibles" and I really did not know how to react. That means some 1000 chips had been sold off the tables and cage, or were unaccountable. I did go down to the cage and get four that had not been on the flatbed trucks to the burners.

The cage personnel realized I coveted any more that might be redeemed, since Harrah's had always the standing operating procedure of honoring any Harrah's chip from the past. A few months went by and I got a call that they had missed a box found in a vault and did not foresee another chip burning festival in the near future and "would I be interested in buying the box."? I drove up in four hours and since then have sold over 70 from the last box.

Its only been seven years since, and most of us do not realize the impact this innovation has had on the hobby. By creating a "collectors series", the idea that people would buy the chip and keep it as a souvenir etc.; compelled other casinos to consider the market. Most of the casinos did not consider the profit per chip as significant, but the added advertising value was more seriously taken as a valuable consideration.

From 1990 until the next milestone of collecting, we have seen other chip manufacturers produce chips that celebrate almost everything imaginable. Some don't celebrate anything, but are similar to the Sailboat in being different and pleasing to the collector. Up until the last two years of new issue deluge, most chippers were pleased with just about any new chip that came on the tables. I can recall being forced to visit the Franklin Bros. Casino, LV; by my table partner in 1989 and cursing him for having me look at the ugliest chip with a blurred cabin that looked like it was burning down. They would not sell the chip at the cage so we spent $80 to get $20 worth of $5 chips that confirmed to me he would by any chip, no matter how ugly. They closed within a year and now we all think that pretty chip worth $45 is very collectible. Times change.

So try to remember the Sailboat as you see all those commemoratives, limited editions, and collectible series. The turning point was 1990 and the Chipco that really celebrated nothing, but changed the chipping world was the Harrahs Sailboat $5 chip.

If you are interested in having this chip, I am offering it for $30. You may contact me via e-mail or regular mail. There is a $1 shipping and/postage charge unless you decide to order another chip from my stock and the charge will be waived. I do not have a complete list of all of my chips available for sale or trade, but welcome inquiries to your specialty. One per person, while supplies last.