The most efficient use of tokens would be to use powers of 2 and have only one token of each denomination per player. 1-2-5 is going to be better overall because people are more familiar with those denominations, but it is less efficient.
With 1-2-5, I can use one 1, two 2s, and one 5 to represent all possible values from 1-10. The same 4 tokens with the values of 1-2-4-8 can represent ever number from 1-15. (With just 1s and 5s, you need 5 tokens [four 1s, and one 5] just to get the values from 1-9.)