~~~ there was a chap named Arthur, from Devinshiremoorsbank, who opened a fish shack called "Fish and Chips" where he served a special between midnite and 2:30 consisting of Red Snapper and huge fries for only $2.50.
It became a big hit overnite with those who were not doing too well at the tables -- and instead of paying Arthur w/ cash, they dropped a $2.50 chip in the tin can by the door.

Then, when Arthur noticed the can full of $2.50 chips he started writing "SNAPPER" on the tin can... and thus the term Snapper meaning a $2.50 chip...