I finally was able to ask the younger Glenn Schimdt if the photo on this BH chip could be of his grandfather Pete. He thought there was a little resemblance, but could neither confirm nor deny the ID. He and his sister, Susan, had not seen any pictures of their Grandparents like that. There are so few pictures of these gambling guys. I guess that was on purpose. I have a photo of Pete Schmidt that was in the Cincinnati post from 1952 when their place hit by some Detroit gangsters, but it is a copy from the library microfilm and it's not worth posting. I think there is some likeness. I guess the chip remains a mystery. Sorry I could not be of any help.
Roy in Cincinnati