Due to the large size, it is either a card guard or a dealer's ante chip.

They are distributed by the US Playing Card Co in Cincinnati. Made in China. 1-1/2" chips are 11.5 grams.

I have a beautiful set of these for sale ($115 plus postage) -- gorgeous mahogany-like chest/rack w/ lock and key, 300 chips, tray with 6 coasters of same design. Wish I had pictures. The chips look just like the dealer chip/card guard in the opening post. Sorry no picture of it.

Robert