A chip coil includes an insulating substrate on which a spiral coil conductor and first and second terminal electrodes are formed. The coil conductor and the terminal electrodes are made by forming a conductive film on the whole of both main surfaces of the insulating substrate and then etching the same. A first insulation film made of polyimide or polyamide is formed on the insulating substrate so as to cover the coil conductor and the terminal electrodes. The first insulation film is etched such that portions corresponding to the terminal electrodes are removed and a throughhole is formed at a portion corresponding in position to the inner most end of the coil conductor. A further conductive film is formed on the first insulation film and etched so as to form a connecting conductor, the ends of which are respectively connected to the inner most end of the coil conductor and the second terminal electrode through the throughhole. In addition, a second insulation film is formed on the insulating substrate and succeedingly etched, whereby the first and second terminal electrodes are exposed.
