I just learned (through the Elks Club web site emails) that the lodge was established in 1901, the time period Monarch mold chips were made (19th century to c. 1950's). So it could be a really old chip.
auction for the chips:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MESELX:IT&item=150309941551
Robert