A painted keychain clinking around a purse long enough will probably chip, but I’ve had good luck painting things like ornaments and signs. I normally don’t clearcoat the ornaments, but I use it on stuff that’ll be handled more. I have Krylon clear acrylic coating both regular and the triple thick stuff. (The triple thick stuff isn’t really necessary for protection and makes for a very plastic effect.) It comes in glossy or matte and a UV protection version. I’ve used other brands as well and they’ve all seem to work the same.
It took some pressure on the tip of the knife to scratch it off.