Translation:The thing is cold.
Because there's a difference between "being cold" and "feeling cold to someone who touches it"
'습' doesn't really mean anything by itself. '습니다' is sort of like 'is ___', like is warm or is cute. '차갑다' means something is cold to the touch, not like the weather. So '차갑습니다', as a whole, means in this case the subject, '물건이' is cold to the touch.
Are ㅈ and ㅊ interchangeable? Sometimes I hear the ch sound but don't see the extra bar above the symbol in the word.