Except for 2 chips, every 25¢ Old Southport C&S has a painted red ring. I have found 2 chips with the original USPC produced red ring. The chip on the left probably spent its life pinned to the lid of a chip box (and was, therefore, saved from the dreaded paint brush)

Why was the chip painted. What happened to the original ring. Who painted these chips. Lastly, does anyone else have unpainted 25¢ Old Southport chips???

The chip on the left is available for trade. If, as I suspect, all others are painted, any trade would be for a better chip.