Here's a piece of collecting history. The rare die-cut metal inlay $25 from ERV in the 1940's in a graded holder that ICG was promoting about 15 years ago. Notice that the grade uses the system that JamesC first proposed that is derived from the coin hobby nomenclature. MS= Mint state, which isn't very appropriate for a chip that never saw a mint. James later adopted the CS term rather than MS to more precisely describe Chip State. His latest book, 4th edition, uses neither of these grading terms, but presents the terms that the Club proposed be the standard.

I'd call this chip SU (Slightly Used) in the newer terminology.

The inlay is silver plated and has some spots from the silver absorbing sulfur or oxygen from the air. The scan accentuates the spots which are not that visible to the eye.

If you don't like the holder on principle and just want the chip, you can break it out, or I'll remove it for you, but you lose some of the hobby-history if you do .

Yours for $85 delivered. Chip is Q-valued in TCR and $225 for S-U condition in James' book.