I saw that, but figured it was probably flattened in the process of encapulation. There are a lot of little air bubbles on that side. There's also an indent where the inlay is placed, as on the other side. There also appear to be some indentations where the mold devices would be. Finally, there doesn't seem to be a reason why a sample would be molded from dies that have the inverted H&C design on only one side. The inlay is placed on both sides.

No real conclusion on my part. It would be nice if we knew if this type chip was ever used at Peppermill, but there aren't many gaming archaeologists keeping track of big denomination chips from that era. Maybe Howdy knows .