Poker was initially played with gold particles, gold dust and coins. Soon thereafter, chips replaced coins and gold particles, as they were easier to manage. Chips were made from ivory, bone, wood, paper and a composition made from clay and shellac. Today Casino tokens are small colored plastic or metal discs used in casinos and gambling establishments. There are two kinds of tokens used, the multicolor tokens of different denominations called chips, generally used in table games, and metal coins, used primarily in slot machines. Some casinos also use gaming plaques for high stakes table games. Plaques are larger than chips and are usually rectangular in shape and carry a serial number. Token coins are bought and are interchangeable with money in the casinos. They generally have no value outside out of the casino, though in Las Vegas, casinos honor chips from other casinos.

Tokens are used instead of currency for several reasons. They are more convenient to use and also make theft and counterfeiting more difficult. Due to its uniform size and regularity of stacks of chips, they are easier to count in stacks compared to paper currency. It has been noticed that consumers gamble more freely with chips than with cash. The chips are considered to be a vital part of the casino environment. However, many casinos are moving to paper receipts.

Poker Chip collecting is a popular hobby for many poker players. Collections have been broken up by denomination, geography, obsoletes, specific casinos, etc. Some of the best collections have been focused on the type of chip, for example crest and seals. These are some of the most elegant and striking chips known.