What about redemption period? Is that only for chips? How can a casino turn off the machine and say, we aren't taking them back?

I think people here can give a few accounts of Strikes being sold in gift shops. Excalibur comes to mind, in a felt lined box. But that could have changed.

The other interesting question is what would happen if I tossed down a strike on the Pass line... that would be interesting. (assume it's from the same casino and I just won it five minutes prior from their strike machine)

All tokens and chips, may only be used for gaming purposes only at the casino that issued them. Correct! That was a big issue when casinos started making "silver dollars" for the slots, since there was a shortage. The Govt. claimed they were minting money...