What exactly are we looking at here. It looks like a clay chip with a shaped inlay, but what is the zipper looking thing around the outside of the inlay? Or is that part of the inlay? But it can't be.
https://www.ebay.com/itm/Jackpot-Ca...830613?hash=item56d5f59b95:g:oSIAAOSw6eleSvTs
https://www.ebay.com/itm/Jackpot-Ca...830613?hash=item56d5f59b95:g:oSIAAOSw6eleSvTs