I've finally uncovered some history on these "Sylcree" chips.

Apparently there used to be a place near Albany, Georgia with gambling (which would have been illegal). There is an article entitled "The Best of Poke McHenry" on the web at http://www.bcstandard.com/news/2005/0915/Editorials/006.html that refers to this place. Here's a quote from the article:

"But the night was yet young, so we drove out eastward to the Southern Belle Lounge at Five Points, to another ultracordial reception, and from there to the Sylcree, an infamous night spot on the Dougherty-Worth county line halfway between Albany and Sylvester.

Here we got into a rather profitable blackjack game, and to this day I have- somewhere in my house- a pocketful of one-dollar Sylcree chips from that night."