That opening post above is nearly two years old, and the topic has been extensively discusssed here many times in the past (and most probably since).
Common terms used for various clay chip conditions have long included:
- Mint
- Near-mint
- Excellent
- Good
- Casino-used
- Poor (aka Beaters, Bike Tires, Chunkies)
Plus a few combinations of those terms, like 'Good-to-Excellent condition', essentially creating another category without actually doing so.
Imo, the definitions listed in the OP are too vague and ambiguous, and five categories is simply not enough to adequately cover the typical conditions found in bulk chips.
No need to reinvent the wheel.