Lesson learned: You get what you pay for.

I bought a $2 US realtime clock module on Ebay, imported from China, and 
the DS3231 chip appears to be counterfeit because it was not keeping 
accurate time. I was suspicious about the price, considering I paid almost 
$8 US just for the DS3231 from a reputable supplier. Over a few days, it 
lost about 1 hour of time.

After replacing the chip with a genuine Maxim DS3231, it's running 
correctly.

A quick web-search found there are several others who have experienced this.

Despite having to replace the RTC chip, the module itself is still worth 
the price because it included a rechargeable Li-ion coin battery and a 
serial EEPROM (no time yet to see if that's working correctly...)

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