Cooling an object is not the inverse of heating. An object in its normal state will expand when heated, but requires pressure to contract (or compress). The money clip (metal) will expand, and possibly release the chip, however, the temerature required to make it expand might (and is very likely to be) more than what is needed to melt the chip!
What is needed here is a way to cut the metal without raising the temperature of the metal. A water cutter, or even a hack saw alternating between dipping in cool water and then applying a cutting stroke. If the metal (bezel, I believe) is cut with several notches, they could then be bent back (like a flower pedal) giving better access to the chip.
Now, having said that, watch the freezer treatment break the hold of the glue and the chip simply falls out!
GL!
Jim
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