I received this email from one of my best "new issue" customers who has become a very good friend. I've not submitted any comments about slabbing on this board other than signing on to the anti-slabbing pledge and contributing a few bucks to its cause. Some of you might be interested in my comments to him.

<< What does Slabbing mean. I see multiple references on the Chip Board.

Thanks. >>

I asked the same question a few weeks ago. Here's how it works:
Let's say you purchase a never used $5 chip for $15 (current value of the chip for example). You send the chip to a "slabbing" (grading) company who confirms it is unused and encases it in plastic with a sticker of authenticity on it. For this, you get charged $10.00. (The price rises with the value of the chip.) Now your chip costs you $25, but is still only worth $15. I see absolutely no value in slabbed chips and feel it is a deterent to our hobby. Of course, if it catches on, it will be a windfall for the slabbers. They don't lay out any money to purchase the chip but collect a nice fee for their "expert" opinion on its condition. Until I go blind, I think I can tell an unused chip from one that is worn. I can see nicks and scratches on the chips and sure don't need someone else tell me that there are nicks and scratches on it.

An analogy: I buy a new water pump from Flowtronics for $125,000. Then I send the pump to a slabber who for 10% tells me "Yep, the pump is new and made by Flowtronics"
That 10% will sure buy me a lot of Budweiser.

Hope I answered your question. I've signed on to the anti-slabbing pledge because I see slabbing as an artificial inflation of chips costs (certainly not value). As you are aware, I and most other new issue providers as well as dealers are trying to promote chip collecting by offering chips at reasonable prices. To artifically inflate the price because the chip has been "graded" will only deter if not recede, the growth of this fantastic hobby.

George