Peter; Whether you realized it or not, you said the magic word! CONDITION; not grade!

"......would allow me to return it if it wasn't in the CONDITION I expected."

What is wrong with verbal descriptions of chips? Why do we need GRADES that are published in some "official" guide book..... a book that is NOT official in any sense of the word? Unquestionably, he book itself is a tremendous asset to the hobby and has probably introduced lots of new collectors to join our ranks. The authors have contributed much time, research and resources in publishing their work. I just think that it has taken on pricing proportions relative to grades that are not realistic ... and if unchallenged will encourage dramatically the slabbing effort that is now under discussion. Does anyone think that any LE chip that was issued last year has 3 different grades already, ..... and doubled, then tripled prices from the base value according to escalating grades? I don't believe so.

Protective cases such as air-tites are fine for preserving the condition of chips. 3rd party grading/slabbing systems are too cumbersome and serves only one purpose.... to enrich the company who is doing the grading/slabing for a fee.

BTW: Those folks who are former coin collectors.... or even current coin collectors, will tell you how much space a couple of dozen coins take up after being slabbed. Apply the same scenario to slabbed chips.