"Intent to defraud is intent to defraud."
Thank you for the clarification Michael

Now, for further clarification, when Borland made these chips HE did not do so with the purpose of defrauding, selling then as he did in his store at $1 a piece.
Subsequent re-sellers did indeed knowingly sell them as 'genuine' though, and some appear regularly on ebay selling at big prices.

While Borland neither set out to directly defraud casinos either, he did on at least one occasion use his "creations" to pay hookers with (and got caught when said ladies tried to cash the chips)