That depends on a lot of things. There is no'standard'as such. All states/countries have different values. If you're playing limit, small values can be better. If no-limit, large values are more fun. Me and my friends play no-limit Hold'Em with a similar set, using $1,000, $2,000, $5,000, $10,000 $20,000 and $50,000, but it;s up to personal taste, really. As for how many? We deal out all the low value chips evenly, have 5 less of the next value, and five less of the next, and so on.'Till you get to really high values, and then only have one or two chips each. Different for different types of poker though. For High-Low or Omaha, different line-ups are better. It's up to you. Good Luck. May all your pairs be pocket Aces!