My apologies but the correct issue Date is NOT 1950s, but 1979...as the 479 printed on the metal of the chip (on one side) stands for (4 for April) and (79 for the year)...
No sure how I got mixed up with those dates...

This was pointed out to my by my dear friend Walter Dirzulaitis...
I have now fixed my Ebay Auction also...
http://www.ebay.com/itm/Golden-Gate-Casino-Las-Vegas-Rare-1-1979-House-Chip-/111715990528?ssPageName=STRK:MESE:IT