It is not a chip. It is a small magnet.
I am not sure the minimum streangth required.
A fridge magnet is too weak. I have heard that a neodynium?? available at Hobby Lobby or Michaels works good. #2 or #3 strength. I amtrying to make one for my BB but am afraid to get a magnet that is too strong and will mess with the plastic in my wallet if it gets too close.
The magnet goes over the GH keys if you hold one over it you will see it go to sleep.