First, I'll state that the chip is worth whatever a buyer & seller agree that it's worth. However, consider this:

If it requires 8 hours of BJ table play at $5 a hand (assuming 50-60 hands per hour), that's $2,000-$2,400 of total play.
I haven't played in Colorado, but with basic strategy, and the inability to increase bet size in favorable situations (due to $5 max. betting limit), the odds are probably 1% to 2% in favor of the house. Multiply this by the $2000 to $2400 at risk, and the "expected value" cost of the chip is $20 to $48.

Personally, I would take the certain cost of $20-$48 rather than risking my bankroll of $2000+ for the 8 hours of play.

But ultimately, its a personal decision for each buyer & seller.