A products having at least a portion thereof with a nanocrystalline microstructure, and methods of producing such products. The method generally entails machining a body to produce a polycrystalline chip having a nanocrystalline microstructure. The chips produced by the machining operation may be in the form of particulates, ribbons, wires, filaments and/or platelets. The chips may be consolidated (with or without comminution) to form a product, such that the product is essentially a nanocrystalline monolithic material consisting essentially or entirely of nano-crystals, or of grains grown from nano-crystals. Alternatively, the chips may be dispersed in a matrix material, such that the product is a composite material in which the chips are dispersed as a reinforcement material. According to a particular aspect, a monolithic article can be formed entirely from a single chip by deforming the chip and/or removing material from the chip.