Andy,

If the only thing wrong with this auction was the use of the term "face value", there would be no issue, in my opinion. Leaving the issue of fantasy chips aside for a moment, even the "thickest" eBay bidder would have to be pretty dumb to think they could buy the chips for say $500, drive to California and cash them in for $4,600. I mean, he says they were never actually used, and nowhere does he imply they are negotiable.

The fact that you always put "No Cash Value" on your auctions of non-negotiable speaks well of you and your accuracy in describing items, but a seller who uses the common term "face value" to list the total of the denominations is hardly guilty of misrepresentation.

Of course, the real issue here is something entirely different, and I think we're better off trying to pin him down on that, rather than focusing on a minor semantics issue.