My friend Joe replied;
Jim
In the Big games we used cash. It was a $2 ante and $4 bet limit. At the end of each round of betting the dealer would pull some $s from the pot and put in a cigar box. I never saw a gun in the box but I wasn't looking either. I believe the games started late and would go on until the wee hours of the morning. Some folks would come in and loose their entire paycheck in a couple hours.

Joe