Auction Win on $60K of Casino Chips Buys Man One-Way Ticket to Court

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ATLANTIC CITY, N.J. — In an epic twist worthy of a final-season cliffhanger, a man who paid big bucks at an online auction for 389 pristine casino chips—valued at almost $60,000—has been told by a New Jersey appellate panel that his windfall is officially worthless. 

Why? 

Turns out the chips were “pilfered” by a long‑gone employee of a casino‑cleanup company, meaning they never legitimately entered play.

The chips once belonged to the fabled Playboy Hotel & Casino, which entertained high rollers from 1981 to 1984 before folding. Upon closure, the casino transferred funds to the State Treasury’s Unclaimed Property Administration (UPA) to cover any outstanding chip redemptions. All good—unless your chips were stolen en route to the crusher.

A UPA spokesperson dryly noted, “These chips were never issued to patrons in the normal course of play. They’re more ‘pirated porcelain’ than prize tokens.” When the claimant presented his haul in January 2023, hoping for a nearly $60K payday, the UPA slapped down his request faster than a blackjack dealer calling “bust.”

Digging into this chicanery, state police investigators discovered that a contractor hired to destroy leftover chips decades ago instead stashed several boxes in a safety deposit box—only to vanish into bankruptcy court. 

Fast forward to 2010: the bank emptied the abandoned box, sent its contents to an auction house, and voilà—our enterprising buyer thought he’d struck gold.

 

Unimpressed, an appellate judge ruled on April 1 that the chips were never part of any official issuance, and thus no redemption payment is due. 

“If these chips had wanted a proper life, they should’ve been minted into legitimate casino currency,” the judge quipped in ruling that the man simply held “misappropriated memorabilia.”

The would‑be windfall now lies buried under legal fees and dashed dreams. 

As for the ex‑employee who pilfered the loot? 

They’ve faded into history—along with Stockton’s bankruptcy paperwork. 

The claimant, undeterred, hinted he might take his case all the way to the state’s highest court, though few believe chips can ever truly gamble their way back into the Treasury.

 

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#ChipsAhoy
#CasinoChaos
#PilferedPot
#AtlanticCityFollies
#UnclaimedTokens
#HighStakesFail
#AuctionGoneWrong
#TokenTrouble
#LostWinnings
#LegalBlackjack
#CasinoCapers
#StateVsStowaway
#StolenChipsSaga
#CourtroomCraps
#FortuneFumbled

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