Past tense of 'cash': to exchange something (like a check or prize) for money, or to have used up all your resources.
From French 'casse' (a money box) and 'caisse,' ultimately from Latin 'capsa' (box or case). The modern meaning of converting to actual money emerged in the 16th-17th centuries with the development of banking and commerce.
The phrase 'cashed in their chips' comes from the literal poker chips that players exchange for money when leaving a table — it became a metaphor for converting any valuable thing into profit or giving up, which is why 'cashing in' now has a slightly negative connotation of exploiting something.
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