Originally Posted by Riculus
Don't oil at all. Wipe them down if you want but oil is for those who look at and don't play with their chips.
I guess I'm in the "less oil is better" camp, but not to this extreme. I put a folded rag against the top of a bottle of oil, invert the bottle to put the equivalent of 5-10 drops of oil into the rag, and oil about 10 - 20 chips before reapplying oil to the rag again. I am only putting a minimal amount of oil on the outer raised ring of the chip (nothing on the hotstamp or inlay).
Using a Paulson THC as an example, this will lightly coat the outer ring, but often leave the depressed parts (hats, canes, and incised part of the ring) "unoiled" when I am finished. Over the next day or three, the oil will penetrate down through the hats, canes, and circles, as well as penetrating inward towards the centre. The exact amount of oil can be adjusted by the amount of oil in the rag and the pressure one applies while spinning the chip in the rag. For me, the "perfect" oil job results in penetration stopping just as all the oil meets in the centre of a HS or just at the edge of an inlay (this one's impossible to judge other than to not
see any "under inlay" penetration).
This might sound tedious, but I'll bet it's quicker and far more precise than the "shoe polish applicator" method. Also, I've oiled a few hundred HS THC chips and a few hundred (giant? grand? -the big one) inlaid RHC chips with about a tablespoon or two of oil.