I hate to bring this subject to the front again but I need clarification.

What good is the term "Uncirculated"?

Several have stated it only refers to that fact a chip has not been used at a table. This implies that a chip could be scratched, chipped, have gouges, etc. and be called uncirculated.

Keeping this in mind I can't see the term "uncirculated having any value.

Used in a rating system a term like "Uncirculated" would need to be stating not just that fact that a chip has not seen a table but it's overall quality.

This being the reasoning I had to call "Uncirculated" and "Mint" similar terms.

Please let's not start the Mint/Minting debate again. When I say mint I am speaking in terms of condition not actually being minted. It is a perfectly legitimate way to describe the condition of collectables.

Although, in all honesty. Mint is usually equated with something being in perfect condition which we all know is impossible. But that is another arguement for another time.

Keeping in mind the barest definition of "uncirulated" it seems to me it is of no use at all in determining quality of a chip.

Personally I consider the term uncirculated to be less useful.

I would rather use the term Near Mint. Meaning it may have minor imperfections. Or you could use the term Near Perfect if the use of Mint is objectionable.

I have to ask which would be of more value? A chip that has seen even just one hour of table use free of scratches and nicks being graded as near perfect Or, an uncirculated that has numerous nicks and scratches.

I ask this question so as to determine the value of the term "uncirculated"

Let the debated begin.