According to Webster's; TOKEN [combined]: Something serving as a sign of authority, identity, genuineess; distinguishing a mark or feature; usualaly stamped metal, etc. with a face value higher than its real value and issued as a substitute for currency.

CHIP: A small round disk used in poker and other gambling games as a token for money; counter.

Both sound the same to me...

I guess knowing the intent of the device is helpful.