over the years, the values reflect the effort and expense one takes to obtain the chips, as well as the face value. The effort and expense do not really change when the denomination of the chip changes, other than the expense of the chip itself. Does that make any sense?

I would say that $2.50-$3.00 for easily obtained current $1 chips is standard, as is the $7-8 value for $5 chips, although some will sell them for less if they are motivated to sell. Difficult to obtain current chips from, for example, private clubs or foreign locations will often sell at a premium. So, a $1 chip of this type might sell for $4-5. Some chips are just so well guarded and hard to obtain that they too have a higher value, even though current.

Michael Siskin