of fading for your example, but I do know it was a common problem that Chipco had with many of their chip orders. For most casinos that received the defective chips, Chipco replaced them and destroyed the returns. Some non-returned, faded examples still exist. Your might be such an example.

On the otherhand, we also know that Chipco chips in red have a real bad bleeding issue and that chip may be faded as a function of the red ink being wicked off the surface before drying. Or, red inks fade very quickly when a chip is exposed to direct light sources (especially sunlight). Is your chip the same faded shaded on both sides?

If so, I suspect the bad formula problem that Chipco had and you have a surviving chip from the first batch delivered to the casino.

Jim