The trophy still exists, and includes the sets of chips from the first 5 or 6 years worth of tournaments.

As a "traveling trophy" it got banged up a bit in transit among some of the winners, and it cost quite a bit to ship it back & forth if the winner wasn't local.
So we replaced it with the framed set of chips that each winner currently gets.

When we have a museum or permanent club location, I'll transfer it back to the club (or at anytime, if a club officer wants to take it / store it now).
It is club property. In the meantime, it's boxed up safely on a shelf in my garage.