I think to incur the wrath of those who abhor the practice of slapping, a chip must be graded and slabbed to be considered “slabbed”. It is the involvement of an outside agency used to determine the value of a chip (and in the process making a nice profit on the process) that is seen as detrimental to the hobby.

In my own opinion, since I don’t need anyone to tell me the value of my chips . . and I like to take them out and hold them once in a while . . I have no use for slabbing or for slabbed chips.

So to make a long story short – no – an airtight encapsulated chip is not considered slabbed.