A cash value chip has a $ on it.
Needs Gaming approval.
A No Cash Value chip has "NCV" but no $ on it.
Needs Gaming approval.
A No value chip is not used on the tables and has neither a $ or NCV on it.
Does not need Gaming approval.
Fiesta free chips given away in 98 & 99 are an example of No Value chips.

Poker tournament chips below are NCV's with a casino name on them.
Needed gaming approval.
If they were made without "NCV" and denominations then no gaming approval was needed.