Hi Doug.....Do you think that the chip might be ivory? A good test is to hold it up to the light to see if it's translucent. If so, you will then need to look for a fine cross-hatching grain. Sometimes this is very difficult to find, and you will need to look deep into the chip to find it -- especially on the edge. Does the "EP" seem to be engraved? I'll attach an ivory chip below so you can see what one looks like.
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