Here are my thoughts on the whole subject of starting costs. I also want to give my opinion on the subject of buying a 2x72" grinder to start. I don't think it has to be one extreme or the other and this is a hot-button issue for me.
Do you want to start making some knives for yourself and for the personal enjoyment of doing it definitely want to keep the initial costs under $500?
Or do you know yourself well and are sure you want to do this for the long run and are willing to save up and buy the best from the start? You can make 1 or 3 useable knives from files and sandpaper, but if you are obsessed with this as a hobby or source of income, that approach won't cut it. I started that way and spent many hours filing and sanding. Nobody tells you but you end up spending money due to wearing out hacksaw blades and files that could have been better used.
If you only want to spend $500 at most to start, have other hobbies and interests you spend money on, or are driving a car with 175,000 miles and can't afford new brakes, I think you're foolish to spend $1000.00 for hobby start up costs. If you have been passionate about this for a long time and really want to get up to speed making knives as quickly as possible, and are sure you will stick with it, then go ahead and save up.
There are people on these forums that make knives by cutting out the shape with a cheap angle grinder, grind the knife on a $130.00 Sears 2x42 belt sander and appropriate belts, drill tang holes with a variable speed hand drill and send the blades out to someone like Texas Knifemakers Supply for the heat treat. If you don't have to have a hollow ground blade or a really thick or large blade, you can make some really nice knives this way to start. Keep in mind that the cost of steel, belts, handle material, heat treatment and shipping will add another $100.00.
I have a Coote 2x72" grinder now and a Sears drill press but cut my blades out with a 4.5" angle grinder I bought at Harbor Freight on sale for $9.99.
I don't regret the $99.00 I spent on my Sears 2x42 5 years ago. I have numerous knives from it that I really like, enjoyed making, and learned from. In my financial circumstances, it would have been another year at least before I could afford the 2x72 and I still would have had to save up for steel and belts.
We never hear from the guys that lost interest or gave up before they even started because they thought they had to have a certain level of equipment to start. This is the only hobby I've seen where people advise you to spend over $1000.00 to start, without knowing anything about your financial situation, character and stick-to-it-ivness. I think that's bad advice.
To sum it up, if you are sure you are dead serious and aren't eating ramen noodles every meal, maybe you should save up some more. If you want to wet your feet and see how it goes, or $1000.00 is just not justifiable to start a hobby, start off cheaper. I don't think it's a waste of money. Finally, if you saw 3/16" blade out with a hacksaw, you'll never want to do it again.
That's the end of my monologue. I don't have a digital camera. Anyone have photos of a nice knife they made with a cheap 1x42 or 2x42 grinder?
Gerry Hamrick