Maybe someone peeled the inlay to see what's under it? I have one and don't know to this day if it's a 1) modern fake, 2) Counterfeit or 3) Messy repair job done at the casino.

I don't have the "real" $25 of the same, but looking at the inlay might show if the real one is sharp and strong and the copy is a reproduction with softer edges and weaker printing.

The glue coming out the sides of the inlay are a sure fire sign.

ps my vote is counterfeit at this point. I'm open for change in opinion.