The Collaborative International Dictionary of English v.0.48:

Chip \Chip\, n.
   1. A piece of wood, stone, or other substance, separated by
      an ax, chisel, or cutting instrument.
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   2. A fragment or piece broken off; a small piece.
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   3. Wood or Cuban palm leaf split into slips, or straw plaited
      in a special manner, for making hats or bonnets.
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   4. Anything dried up, withered, or without flavor; -- used
      contemptuously.
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   5. One of the counters used in poker and other games.
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   6. (Naut.) The triangular piece of wood attached to the log
      line.
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   Buffalo chips. See under Buffalo.

   Chip ax, a small ax for chipping timber into shape.

   Chip bonnet, Chip hat, a bonnet or a hat made of Chip.
      See Chip, n., 3.

   A chip off the old block, a child who resembles either of
      his parents. [Colloq.] --Milton.

   Potato chips, Saratoga chips, thin slices of raw potato
      fried crisp.
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