Jerry; I would hope that you reminded your coin collecting friend that the reason slabbing exists in the coin hobby is primarily for the MS (Mint State) grading numbers games that different "independent grading firms" play with their product. Authentication has very little to do with most modern day coinage. It's primarily a numbers game played by investors and speculators.

Chips do not have the same highly reflective surfaces (mint lustre) that coins do (which contributes greatly to the various grades being assigned to coins)... and light-contact bag marks that appear on high grade coins which diminishes value and also affects grades greatly are pretty much a non-issue with chips.

A diference of one grading point between two similar-looking high grade coins can mean hundreds, or thousands, of dollars difference in value. I wonder how many chip collectors want to go that far playing the multiple grading numbers game? Obviously, coin collectors and coin dealers like the game they are playing.

Having said that ... anyone who is so inclined is welcome to submit their chips to the slabbers for their opinion(s). Personally speaking, I (for one) would prefer NOT getting into the slabbing numbers games.

As for investing and speculating ... that's what Wall Street is for. That is not to say that chip collecting can't be financially rewarding at the end of one's collecting activities where a chip collection, through years appreciation, is worth more than what the collector paid. But the submitting and re-submitting of coins (chips) in the hopes of receiving a higher grade through slabbing is not what collecting is all about ... in my humble opinion.