California card clubs are notorious for using chips from a closed casino. An example is Lake Elsinore is using an old, worn out, difficult to read $0.50 chip from a closed club (also housed in Lake elsinore) called the Sahara-Dunes in their casino.

The question is, can this be called an obsolete chip? In other words, is an obsolete chip one that is being used in a presently operating casino but no longer being manufactured? or one that was used from a closed casino and no long in use anywhere or as described above, one being used by another casino just because they don't want to foot the expense of buying new chips?

Any answers from all you old time chips collectors would be appreciated.