In the first instance you say you believe the seller when he says he mailed the chip. That is a reasonable explanation why you did nopt leave negative feedback or file a fraud complaint with Ebay or Paypal. Your time to file with paypal is over but you can file with Ebay (they insure to $200 with a $25 deductible). It would seem to me that a reputable seller would make good on this transaction and either replace the chip or return your money. Have you asked him? If he is a club member you can ask Jim Pierre to help mediate the situation.

In the second instance you still have time to complain to paypal. If you do not get a satisfactory answer before thirty days have passed make sure to file your paypal complaint. You can always withdraw it later if the situation gets resolved.