It's not hard to put he coin inlay from one chip into the BudJones plastic ring of another. Lots of Frontier Las Vegas chips were muled. Here is a scan of a Desert Inn $5 (from The Chip Guide) that would have worked if the $5 coin from Americana were substituted for the DI coin. Sometimes (but not always) a bit of the plastic around the coin is chipped in the process since it's just a matter of forcing the coin into the hole in the plastic.

There are probably other chips that used this rim design that could have been used as well. Who knows why these were made... sometimes it's just someone playing with a chip. Not always an attempt to make a chip into one with a different denomination.