Cud or Die Chip?

"Cud" is perhaps the most misused term in numismatics unless you include descriptions of coin grades offered by eBay sellers.  Getting good information out to new collectors is the task as hand.  The experienced collectors are constantly charged with teaching the novices.  It is up to the novices to seek out good information.

A cud is a piece of the die that has broken off, as seen on the Half Dime on the right. 
A die chip is a small bit of interior metal that has flaked away, as seen on the Lincoln Cent on the left.

All too often I see die chips being described incorrectly as a cud.  Be a better collector: employ the correct term.

I have a video explaining things in a way that maybe easier to understand.

Further Reading
Ken Potter has an excellent article on the subject on his website:
What Is A Major Die Break (or Cud)? And What Isn't!