I used to buy these "misprints" by the dozens from Fat Cat Tokens in Windham, Maine several years ago. I was told by "Bud", the owner of Fat Cat, that CHIPCO sold these overprinted chips very cheaply to casinos for new dealers to practice with the CHIPCO product.
I too have had several overprinted Puerto Rico and Sturgis chips and the CHIPCO's made for CT Rodgers and Armin Pfaender for their now defunct Western Casino Collectibles Club. Some chips are so obliterated with ink that the underlying designs are not even distinguishable. Anybody want some for $1 each?
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