James, the words UNCIRCULATED and NEW should be used in the context of NEVER HAVING SEEN TABLE PLAY. I beleive that is the classic definition we collectors use.

Many people subscribe to NEW ISSUE SERVICES who send people out to buy new chips when they are announced. The Nevada Gaming Board has an announcement (PDF file)once a month with the releases of new chips and tokens.

http://gaming.nv.gov/chip_token_rpt.htm

Many collectors, myself included will purchase a quantity of chips from the cashier cage so that we can sell NEW or UNCIRCULATED chips almost indefintely! It funds my purchases of $1 Nevada chips, the collection my wife and I concentrate on.

Welcome to the hobby!

Ask away!