In the Websters Unabridged Encyclopedic Diction of the English Language, the definition of Counterfeit includes the intent to pass it off fraudulently or deceptively as genuine. So, by those definitions, I guess it does matter if it was produced to defraud casinos or collectors, although which one is irrelevant.

Of course, we are free to ignore the dictionary definition and define counterfeit in the casino chip collection context however we see fit.

Michael Siskin