Answer:
In poker the chips have a value, this value indicates how much that particular chip is worth. There are "Live Casino Chips", which value is a reflection of how much money they are worth. (For instance a $5 chip is worth $5).
There are also "Tournament Chips", their value is a reflection of how much a certain "Tournament Chip" is worth. Tournament chips do not have a cash value, their value is only relevant to the tournament that is being played. (For instance a 50,000 points chip is NOT worth $50,000)