How expensive? You are correct, 5160 is not cheap in small quantities. We do not have to use 5160.
I want to say the price quote to have an eye cut out was around $100. The problem with the steel in the size needed to make an axe in this manner is it usually comes round and you're buying from the mill. It would be an additional process to even get it to a rough rectangular bar form and probably not worth the mill's time.
As far as machining goes, if you get a quote under $150 to machine an axe from a cad file into a block let me know. I'll be the first to send them my business. I'll try and post some of my designs later. I've come up with Connecticut's, Jerseys, Cedars, and Tasmanians galore.
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