I bought a vintage blade on ebay with some small chips. It took me a while to get most of the chips out using my low grit DMT coarse stone. I then moved to 1200 grit Bester, King 4k, Naniwa 8k, and Naniwa 12k.
I seems like the chips go away but the blade is not sharp enough. I keep honing trying to get it sharper. It eventually then chips again before it becomes sharp enough to shave. The parts of the blade that don't have chips are shave ready.