There are no "official" chip color-demonination standards, but there are some commonly observed ones. Here are some chip colors and commonly associated denominations. Of course, you can designate any value you want for any chip color and vary them depending on whether you are playing for small or larger stakes or in a regular "cash" game or tournament.

Chip Color   Primary denomination   Alternative denomination Small stakes denomination         white                     1                  1000             1.00         red                     5                  5000         .05  (or 5.00)        blue                   10               50 or   500         .10  (or 1.00)         green                   25                            .25         orange                   50                              .50         black                  100                              purple                  500