From Gold to Clay
Before the 19th century, poker games were played with material that had value like gold. However, the need for standardization in a game that was getting more and more popular produced the arrival of the commercially made poker chip.
The first poker chips were used in Louisiana and made of various materials such as, ivory, bone, and wood. Later in the 19th century most were made from clay. Now you only see clay as part of a chip in casinos, and even then casinos often use a ceramic material as they are easier to print words and designs on them.
Casino Chips
Chips are employed for several reasons. Because of the uniform size and shape they are easier to tally compared to currency. Furthermore, it is observed that consumers gamble more freely with replacement currencies than with cash.
Chip Design
The chips used in United States casinos typically weigh about 10 grams, but they can be between 8 and 16 grams worldwide. There is no universally standardized color scheme for poker chip values and vary nationally and regionally.
Counterfeit Chips
In the early days of the lawless Mississippi riverboats, counterfeiting was rampant. Over the years, casinos started getting smarter about combating counterfeits, using such measures as specific weights, serial numbers, and microchips.
Casino Chip Collecting
Casino chip collecting is exonumia collecting. Typically traded on online auctions rare chips can be worth tens of thousands of dollars. A $5 casino chip from the Golden Goose Casino in Las Vegas sold for $75,000.
Poker Origins