"And the values agreed upon are often (usually) posted/displayed somewhere -- like on the rim of the roulette wheel, you may have a $5 chip atop one of your red chips (if you agreed that reds would be worth $5) so the eye in the sky can know what is going on for payoff purposes, etc."

I hope I get this right, because its been way too long since I sat down at a wheel. The marker chips you are talking about are known as lammers, and they, like regular wheel chips, are non-denominational (they have numbers on them but no specific monetary markings). The numbers on lammers specify what a stack of 20 chips of that color in play is worth. So, if you are playing (for example) gray for $1 value chips, there will be a 20 lammer on a gray chip on the wheel rail. If you are playing (for example) blue for $5 value chips, there will be a 100 lammer on a blue chip on the wheel rail.

Bob (in Brainerd....people here talk funny!)