Take a look at the other denominations, also showing "1 of xxx".
http://chipguide.themogh.org/cg_chip2.php?id=NVAVSS&v=1302076824

These LE's were made in heyday of LE's when it was quick money to be made -- production cost vs. collector price @ face value+.

A big-time dealer (Jerry Wall, I think it was, though it may have been someone else) would make arrangements with a casino license holder such as this. He would "broker" the order and be the exclusive sales agent, marking them up in price. She would get a cut. I don't think these ever saw table play.

BTW, Paulson (and others) would do numbering on chips in 2 different ways -- the actual #, or everything is a #1. The actual #'s cost more, since the stamping needed to change each time.
Depends on if sold as same-numbered sets or not.