Jay,
I do not use uncirculated when describing obsolete or older chips. Only for LE's & current house chips.

As for......

"if I received a chip described as "uncirculated" and it was scratched or otherwise damaged, I would not be a happy camper."

That's why people deal with myself & other dealers who have a 100% guarantee. I think where most of the problems come into play is with eBay sales. People get items which are not what they were made out to be & sometimes can't return it. As you know, you don't have that problem with me..............Andy - Las Vegas