Jamison...the Panama Chip was used as a roulette and that would account for the rack being in poor shape. Casino Nacionales chips were issued after the military junta government of Gen. Omar Torrijos nationalized the casinos along with the major hotels. At first the government used the T-Mold chips, but later changed especially the El Panama and Holiday Inn casino chips. That's when the chips used a typical Panamanian dress on the chip's face. Gen. Torrijos was overthrown twice before he died in a plane crash after returning from a horse track in Mexico. His brother, Ector was the minister of gambling. That's a nice looking chip you have. Hope the information helps.