That's right Ralph. If the NCV is part of a current promotion, then it is usually worth face value at the gaming table. The "no cash value" part just means the casino won't redeem them for cash at the cage. You have to wager them to get the "value." I managed to talk a cage manager out of some NCVs once because the promotion was long over and the chips were not being accepted at the tables.

There are different types of "no cash value" chips. Tournament chips are NCV, and are never accepted at the regular games. I had a cage manager give me a set of tournament chips once because he believed I was a collector and they would never show up back in a tournament. Most casinos won't sell current tournament chips for ANY price, because everyone is given the same value of chips to start, and if you can slip in your own chips it would give you an unfair advantage (and most likely get you a one-way ticket out the door).