Are you familar with the game of Panguine?
Its played like gin rummy, but with multiple decks and the 8, 9, and tens removed.
They use to play it in the California card rooms (Gardena), Las Vegas (Sahara and Union Plaza), Reno (Harolds Club) etc.
It has gone the way of Jacks or better Draw and Lo-Ball poker games.

This looks like a PAN chip.
They were non-denominational, like roulette chips.
Values were assigned by the players (or card room).

Let me know if you need more info on the game.