In this chapter, the concept of compensation of sensory loss will be briefly discussed. Different types of compensation resulting in a cognitive restructuring of information will be examplified. A compensatory matrix will be introduced as an analytical tool for different compensatory phenomena. Furthermore, it is argued that compensation in a deeper psychological sense should be regarded as a skill, rather than an extended utilization of intact modalities. Data from an experiment on blind chessplayers is presented as support for this view. Half of the subjects were novices. In total 24 subjects participated, assigned to six subgroups. Congenitally blind subjects performed very well on a tactile matching task in comparison with adventitiously blind or blindfolded sighted subjects, provided that they possessed a substantial knowledge of chess. In the case of naive subjects, almost contradictory results were obtained, implying that blindfolded subjects outperformed blind subjects.