The problem with all the terms is they are subjective. The benefit of the various price guides and other books (realizing none of them are perfect) is they give a substance to their subjectivity. You and I can discuss a chip that has a value of X in such and such a book, but then we can agree or disagree, accept or reject that value. The alternative is we guess.

I am amazed at how often I see 'rare' items on ebay, listed for .99 and have no bidders. I sometimes wonder if potential bidders are turned off by the excessive use of the terms.

If I say I have Y chip, from Y casino which is closed, and I am asking $X, then you can respond. No hyperbole needed. I am always anxious when I deal with non members when dealing chips (although I've met several nice folks who aren't members).

This has developed into a rant, sorry. I agree that there is a different context, one is more helpful, the other is of no help.