Ignore that 'M' value
In the last issue of TCR, the editors tried an across the board 'test' of valuing 'altered' chips one step (or $25) above the cancelled value.
That has all been revised (and rightly so). Expect some of these to be worth LESS with the cancellation removed. Remember, in your case of the Olivers, and many others, those chips were cancelled at the casino so are the 'genuine article' in their cancelled state.