Matt,
Sounds like a fun, friendly social game. Best of luck with it.
Regarding chip needs, I think you have a solid plan. That set is likely to work well.
Here are some minor suggestions and observations I can make based on playing in a weekly home game (pot limit, dealers choice, $0.50/$1 blinds and $0.25 ante for stud games) that has been running now for over 10 years continuously.
Chip Stacks Promote Action
If people only have a few chips in front of them, they are likely to want to hold on to them. Even if the actual value of the chips they are holding are the same. So having more of the lower denomination can help the game.
If you are already thinking about adding more £5 chips, you should consider adding just 20 more of both your fractional denomination. That way you can start all 6 players out with a stack of each fractional denomination, and make up the remaining 4 pounds with your £1 chips.
Plastic Racks and Full Stacks Make Setup Easy
If you have plastic racks, using full stacks of the lower denoms will will also make your game setup and selling chips at the start of the night easy. Just prepare racks with one stack of the £0.05, one stack of the £0.25, and 4 of the £1 and you can easily exchange those when players arrive.
Bigger Denoms Become an Event of Their Own
Hold off on using the £5 until you need to. Sell out of your £1 first.
As the game goes on, either because people rebuy, or a new player shows up (more on that in a second), and you introduce those £5 chips into play, they become an event.
People will remark on those chips going into the pot, or someone accumulating them as a result of making change for another player.
Paper Notes Can Be a Big Event, Too
You already have in mind the notion of the total value of the chip set, and how much money can be in play. Smart thinking ahead.
Since you are playing small stakes, even a small number of higher denomination can really make a difference for how much money could potentially be in play.
But if it reaches the point where paper notes are in the pot, that is also a juicy development. Just limit the use of paper to 10 notes and 20 notes.
The first time you have a pot with a mountain of chips and a tenner or two, it is going to be a big deal.
No Going South
One thing to keep in mind about making change for paper notes - that new paper money must stay in play. Might seem obvious to you and me, but other players not as familiar with table stakes could easily hand over 10 quid worth of chips and then pocket the tenner.
Once paper notes are exchanged for chips between players, those notes have to stay on the table. Easiest just to keep them up front with chips on top.
Your £1 Chip Collection in Use
This is a nice idea that could make for good conversation, and will certainly make you happy to see your collection in use and actively moving around the table.
Just try to limit the number of colors and styles in use so as not to cause confusion. This is easier done in the states where $1 chips tend to be white/blue and you can plan other denoms around that. Not sure Genting yellows play well with whatever other houses are using there.
Stable of Horses
One last thing I can say from a long running game: be sure to talk up the game and invite others. Your table may be limited to six at once, but players are going to bust out and leave, or miss nights. Squeezing in a bit can be all right (at least it was ok before the global pandemic), and having some late arrivals is a good way to re-energize the table.
Best of luck with your game!
