A punch includes a base and a chip cartridge that is movably coupled to the base. The chip cartridge is movable between a first position and a second position relative to the base and defines a chamber that is configured to receive and hold chips produced during a punching operation. The chip cartridge includes a chip receiving portion that is configured to receive chips created during the punching operation and to permit entry of the chips into the chamber while the chip cartridge is in the first position. When the chip cartridge is in the second position, the chip receiving portion provides communication between the chamber and outside the chamber via an area less than or equal to about 200 percent of a surface area of the chip produced by the punch.