What do you see in the pictures that is different? Not sure what you mean by "ridges on all four sides". Mine is considerably more worn on the rim (but not the inlay) than the $1 in the auction.

I've often see this type of chip with plastic "flash" over the edges of the metal inlay. Sometimes the look like someone has scraped off the excess with a knife or fingernail. Not sure whether this was done in manufacture, by a player, or by a collector. My 50c example doesn't really show that.