Here is what the seller told me "This chip came from the Cashier Cage... The Cashier said they were supposed to be destroyed but decided to put them out, although I didn't see them at the tables... I could not find them in the chip guide as previously used... Maybe they were once considered as the $1 chip at the casino opening and have been stored away all these years??? I don't really know and I don't think the Cashier really knew... I will be putting one up for auction later this week..."