I am NOT a Chipper but would very much like to know why there so many uncirculated Chips around, selling under their actual 'Face' value e.g. U$100 Chip Value selling for say U$25 and why were the Chips NOT Cashed in when the respective Casino's would still exchange them for Cash?

A Chipper with whom I have a lot of respect for, advised me:
"they might of been chips that were ordered by a casino and never used? The casino closes its doors and the chips leak out from an employee? Sometimes backup chips are ordered and never used because the original chips were never compromised or counterfeited. Other times...they are exact duplicates made after a casino closes (very rarely happens)"

I look forward to your answers.
Thank you.
Gerald