I have bought a set from him. He told me he purchased all the chips 20 years ago and is now selling them off. He's a bit hard to deal with as he's 75, disabled and with bad eye sight (that's what he told me anyways). The chips are a crapshoot. The $1's are bicycle tires, $2's are mostly new, $5's are well used, $10's are new, $20's are a mix of well used to mint, $100 used to mint.
On the plus side I love the colors and they clean up very well. I will probably have a set for sale once I get them all cleaned up.