I have to disagree with this. You only have one chance to give your son his first knife. My Dad gave me an el-cheapo Imperial Barlow as my first knife. I did not lose it, I loved it, and took great care of it. In fact, I still have it. Every time I go through my collection and look at the thing, I get irritated about what a cheapskate my Dad was. He could easily have sprung for something a bit nicer.
I'm not saying anyone should be giving their sons a Mnandi or a William Henry, but something of at least decent quality that will give the boy some pride of ownership. A first knife is an important rite of passage, don't cheap out on it!
My son will get a Case as his first knife. He's only two, but he's already interested. We were at the Case store yesterday, and he was pleading with me to buy one of the key-lime series. I think he just liked the bright color. I told him Daddy doesn't collect the ugly ones.

I may just give him his pick out of my collection when the time comes. (probably when he's six or seven- that's how old I was when I got my first knife) If he loses his first knife, that's on him.