Wolf,
I have borrowed a photo file off the Simpsons LTD web site to show the chipped wood just at the rounded cut-out in the wood for the lower portion of the thumb safety lever :
You see the wood on the left grip just above the magazine release button chipped out as well...but not as frequently.
I think the "million dollar chip" usually refers to the thumb safety problem area amongst most luger folks.
The Sid Abermann .45 luger pistol has its chip at the location shown in the Simpson LTD photo, posted above...
Hope this helps...