The Hobby Protection Act (which applies to U.S. coins) does not apply to fantasy pieces - only to copies of genuine coinage (and only if made in the U.S. - so Chinese counterfeits don't run afoul of that particular law).

Some people have gotten into other trouble by making fantasy coins that imply they are legal tender (at least in the eyes of the Treasury Department's lawyers), but I think they were prosecuted under other laws.

For those who question whether buyers of fantasy chips should be warned, this chat board is filled with questions from new and experienced collectors who bought Borlands or those neat metallic Nevada Club chips wondering why they aren't listed in the Chip Guide. The fact is that people are being deceived all the time.

I am not commenting on the current controversy, but pointing out that the confusion continues.