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Originally Posted by 2001 X5
So went to start our X5 Friday morning only to find it won't crank. Dropped key on sidewalk on way to car. Ordered a new key/fob and valet key. Car starts fine with new keys..now comes the oddity. Old key will start vehicle if you use new key first then the old one AND not remove old key from ignition. Starts every time with the old key till you remove it. SO....what's up here, apparently chip in old key is still good.....?????????????? 
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Nope, chip in old key is bad. Starts the X with new key, turn off engine and remove new key, wait 10 minutes to restart with old key. Does the engine still start?