The ship did sink, however, that is not why the chips are faded. They are faded because in the early days of Chipco they had a chemical problem with their ceramic (resin) mixture.

Chipco, at quite an expense in time and labor, ended up replacing the product of many, many casinos. The replacement meant return of the inferior (fading) chips, but I do not remember how the faded Club Royale chips come onto the market.

I believe the replacement chips (non-faded ones)are also in the marketplace.

Jim