In my opinion, contrary to my thoughts when I was researching the Osborne chips, the orange $500 was never in play. They were made purely to be encapsulated. The notched example was the casino's example, 1 of two provided.

The in-play chip was the pink shown below left, also concentric circles. The chips shown on the right is the Osborne re-production, and this is the chip which both TCR and James list in their books.
Neither list the genuine chip, and mine is the only example recorded.