Removing large chips from the blade
Removing chips that seem very large can seem a daunting task to many, but it really isn't too difficult. Some people prefer to use hones to remove these chips, but I prefer to use a grinding wheel, iced water, and patience.
The reason I prefer to use a grinding wheel here is I can change some other features about the blade too whilst I am fixing the chip. I will take careful measurements and calculate what the width of the spine needs to be after I grind down the blade width. I carefully remove steel from the spine of the blade to ensure that after I am done with the blade width I can hone the razor without incident. Other people may do this differently, but this works for me every time, so I stick with it. Something important to note is that you really need an ice bath to keep plunging the razor into. This prevents loss of steel temper, and a whole other can of worms.
Most of the grinding is done "by eye", meaning that you are getting the blade as level as you can see using your eyes. You need to ensure you don't point the cutting edge of the blade in the direction that is against the wheel, or it will break the blade, or tear it from your hand possibly causing injury. You need to allow the grinding wheel to do the work, this will reduce heat buildup and give you time to get it right.
After this grinding is done you will need to "bread-knife" your blade to ensure a perfectly straight cutting edge. The grinding just quickens up this process. Breadknifing never ruins a blade, if you are proficient in honing, you can hone the razor after "bread-knifing" just like you could before. Bread-knifing itself does not prevent the razor taking an edge, it only removes steel.
The reason I prefer to use a grinding wheel here is I can change some other features about the blade too whilst I am fixing the chip. I will take careful measurements and calculate what the width of the spine needs to be after I grind down the blade width. I carefully remove steel from the spine of the blade to ensure that after I am done with the blade width I can hone the razor without incident. Other people may do this differently, but this works for me every time, so I stick with it. Something important to note is that you really need an ice bath to keep plunging the razor into. This prevents loss of steel temper, and a whole other can of worms.
Most of the grinding is done "by eye", meaning that you are getting the blade as level as you can see using your eyes. You need to ensure you don't point the cutting edge of the blade in the direction that is against the wheel, or it will break the blade, or tear it from your hand possibly causing injury. You need to allow the grinding wheel to do the work, this will reduce heat buildup and give you time to get it right.
After this grinding is done you will need to "bread-knife" your blade to ensure a perfectly straight cutting edge. The grinding just quickens up this process. Breadknifing never ruins a blade, if you are proficient in honing, you can hone the razor after "bread-knifing" just like you could before. Bread-knifing itself does not prevent the razor taking an edge, it only removes steel.