"Thus, even if the act covers casino chips, a fake chip with an exact hot stamp match (which, it seems to me, would require professional manufacture to produce) but on a blank of a color never used by the real casino, would not violate the HPA."

Jim wouldn't this "purports to be, but in fact is not, an
original numismatic item" as opposed to "is a reproduction, copy, or counterfeit of an original numismatic item."

"The dated Borlands would not violate the act (no real chip ever having had the closing date of the casino on it)."

These wouldnot purport to be ... because obviously by having a closing date we would expect they not made by the casino. When I got into collecting a bought one fantasy chip in a keychain, I knew it wasn't real because if the casino closed why would they make a chip after that. Then I later found that there was concern that people thought these were real (I still don't know why).