David, thanks for the replies, and thanks for confirming my assumptions about TR King and Paulson.
For what it's worth, I'd formed my assumptions about plastic in chips in part based on this diagram I found in an overview of the history of poker chip materials and manufacturing:
View attachment 667498
Besides resin (i.e. plastic) being explicitly shown as one of the ingredients, the use of heaters to soften the material prior to punching blanks and later again prior to punching spots and holes suggested to me that chip production is largely plastic-like rather than clay-like. Clay, at least when used in making items like pottery, porcelain, and bricks, is soft when wet and firm when dry, requires water rather than heat to re-soften, and transforms to permanent hardness by being heated slowly without being under pressure. Whereas the chip-making process shown here uses material that softens with heat rather than water and is transformed to permanent hardness by being heated quickly under immense pressure - all of which are characteristics of plastic (some types of plastic, at any rate).
David, from pictures and descriptions that others have posted, the ASM/
CPC chip-making process seems to be at least
somewhat similar to this picture, in that sheets are made (and stacked and stored), then blanks punched from the sheets, then spots punched from the blanks, and eventually the final chip is produced in the mold under heat and pressure. I'd love to understand what kind of steps you go through to ensure that the material is at the right consistency at the right time. I understand you're under no obligation to provide any details, but I'm hopeful that you might and would be grateful if you did.