I got this chip on ebay last week. It has no mold, the center inlay is engraved with two script initials. The surface at the edge of the inlay feels smooth to the fingernail. The base material of the chip is translucent. The seller said plastic (or catalin).

I don't think I've see a chip of this type before. Any ideas on who might have produced it? I don't see anything like it in the USPC reference by Kregg Herz. There are examples of script names and initials but no mention of any translucent.