Though I haven't read the auction description, the chip you illustrate resembles a more modern version of a manufacture that was used in years past in Italy and South America (only seen one or two from Germany; non-casino); kind of the 'forerunner' of the "CMI" Paul-son chips from Nevada (Fremont).

Some advertising clay composition chips in the past also had hardwood inlays. I guess they would be "WIC"