$2.50 chips are not generally considered fractionals by the chipping community. Fractionals are less than $1. $2.50 chips are considered "snappers", a category to themselves. The term "snapper" comes from the gaming industry, where dealers traditionally referred to 2 card blackjacks as "snappers," which are paid as 3 to 2, so a $1 bet would be paid $1.50, plus the originally $1 for a total of $2.50, or a $5 bet would be paid with a $5 chip and a $2.50 chip.

Michael Siskin