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Originally posted by: billryan
They were always worth $10 if exchanged. The amount of silver was reduced in recent years, but they still contained more than $10 worth of silver. Silver is pretty depressed now, so it might be better to exchange them.
The clad strikes don't have anywhere close to $10 worth of silver in them. The centers are clad, not solid silver...but, there are some strikes that come from the machines in red airtite holders (known as red caps) that do still have the solid silver centers.
Some of the few casinos that still have silver strike machines also have $200 silver strikes that you can obtain by exchanging 20 $10 strikes. The $200 strikes are 1 troy pound of .999 silver, many with 24 carat gold plated highlights. Those are worth some pretty good money these days.
In years past, many casinos had silver strike machines. They didn't own them. IGT did. IGT would provide the machines to the casinos and was also involved in ordering tokens from the mints that produce them. IGT would split profits from the machines with the casinos. IGT decided they wanted to get out of the silver strike business. Casinos had/have to buy the machines ($13,000 each last quote I heard), and the casinos now deal directly with the mints for the tokens. The centers remained solid silver until the price of silver went way up. That's when the clad center strikes replaced the solid silver center strikes.