Yes, seems strange -- those prices. Maybe:
¶ price high because rigged for cheating.?
¶ 2-1/2" tall is twice the size of the regular metal ones that we see on eBay from time to time. i sell those for about $50. Look:
http://www.antiquegamblingchips.com/PutNTakesForSale.htm
¶ maybe being celluloid, hand-painted, perfectly balanced made it costly. The odds on top level spin independenty of the horses named on the bottom level.
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The typical metal honest ones sold for 50-cents, the crooked ones $5. Look here:

Robert
http://www.antiquegamblingchips.com/putandtake.htm