Since the subject is being discussed below, I thought I might share some ideas I had years ago when this subject came up. Since the idea of grading/authentication/slabbing was quickly and so thoroughly squashed, I didn't bother even bringing it up.

There were a number of objections against slabbing. Some of which:

1) I want to touch my chips, not have them encased in plastic.
2) There is no authority capable of grading and authenticating chips.
3) It is impossible to assign one grade to a chip.

Here were some of my thoughts back then, I assume most still apply.

1) I want to touch my chips, not have them encased in plastic.

Easy. Once you buy the chip, pop it out of the casing. The chip is yours to do as you want. It's not encased in lucite. I believe most encapsulated items are held in place with some kind of tamper proof sticker, no?

2) There is no authority capable of grading and authenticating chips.

This is probably true, at this point in time. It would be difficult to find someone independent in the hobby who would be able to do that. Difficult, but I would guess not impossible. If it was profitable enough, I would assume a company could find someone capable to learning how to do it. The most knowledgeable people in the hobby are likely also dealers, so it would be a conflict of interest to have them grading (potentially) their own chips. But could they teach an independent evaluator?

3) It is impossible to assign one grade to a chip.

I completely agree that a 100 point value on a chip is likely impossible. How a chip could be a 73 vs a 74 is ridiculous. However, what if the measure to split into categories, and the range less precise? Maybe a 1-10, or even 1-5 for multiple categories?

You could have (among others):

- Color: 1-5
- Center (centering of inlay or strength of hot samp): 1-5
- Condition (worn to uncirculated): 1-5
- Nicks: 1-5
Others?

On the label would show each of these values, and also a combined value of all. One chip's Grade:17 with an off-center inlay would be different from another Grade:17 with multiple rim nicks.

I don't know, maybe the Slab-Freers are right and none of this will work. I personally have no dog in this hunt. I would assume any slabbed chip I bought would be cracked out, but who knows.

One more thought... I think maybe the time for going this grading route might have passed. Fifteen years ago when enormous amounts were paid for chips was probably the time to attract the investors. But then again, I think "attracting the investors" was exactly what many were trying to avoid.

Anyways, just putting that out as food for thought and my 2cents worth.

Cheers,
Ed