The guy should understand a mistake is a mistake and he should exchange the chip with you and laugh at your blunder.

Maybe he has been away and not seen your emails yet and there is no ill intent on his part. If he is a club member it is very much out of character (in my experience) but like you are aware of you DO have some remedies through the club. You are generous to offer $20 in chips but he should be big enough to decline the offer and correct the mistake. His actions will speak volumes for his character, but don't jump to conclusions prematurely.

Keep trying to contact him and give him some time to respond.