Awesome stuff mate! I think I've seen a small portion of this video before somewhere, but it wasn't tagged as being the wetterlings factory. Perhaps it was a completely different video altogether... Regardless, very neat video and nice to see how it's done! Also, on your earlier comment: while it's not hand-forged, it certainly does involve a stronger human element than drop forging. Also, from my understanding, isn't this method of forging much better than drop forging (which I believe only involves a single, very high pressure drop to press the metal into the shape)?
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I have not seen anything other than speculation about this method being better than drop forging. In fact, when the drop hammers came out, only the companies that were not doing too well continued to use this method. All the ones that could afford it switched to drop hammers because it was considered a better method. At the end of the day, I personally think they are the same. It all comes down to the design and the finishing work that is put into the product. A GB axe made in 1980 looks exactly like a drop forged axe made by Council Tool, and I'm sure they perform the same way. Whether a hammer hits a block one or ten times, I don't think matters much.
I think people believe this is a better method for social reasons rather than practical ones. We tend to think that "hand made" things are better. Back when people loved technology, it was the opposite. People have started to think that this method is better because of the high quality axes put out by GB, but that has nothing to do with the machines. At least, I have not seen anything that would show that.