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In regards to your question, it depends on what part of California you are in (and possibly your reason for carrying the knife). It will be easier to give you a specific answer if you say what part of California you are in.
Throughout most of California it is perfectly legal under state law to openly carry a fixed-blade of any size or type
* with no reason needed (California penal code 20200). However, for example- in Los Angeles (county and city) it is illegal to openly carry any knife with a blade 3" or longer, unless you have a "legitimate" reason as specified in the LA penal code (specifically- legitimate work-related activities, legitimate recreational activities like fishing, camping, etc, or for legitimate religious reasons). (
*"knuckle-knives", that is, knives with metal knuckles attached, are illegal throughout all of California, because the mere possession of "metal knuckles" is forbidden under CA law. CA pc 21810)
I live in San Diego, and all of SD follows state law, so down here it is legal to openly carry any size or type of fixed-blade. Below is a picture of me and how I have been carrying my fixed-blade everyday in public for around the past nine years. Many cops have seen me carrying it, some close enough to touch it, and not one has ever said a word about it. And that's despite the fact that I ride a motorcycle and look like an extra from a biker movie.
Of course your experiences may vary. Different cops can act differently, and not every cop will know the specific details of the law. I've seen several people openly carrying fixed-blades here in SD over the years, so perhaps the cops here know that it's legal and don't see any point in hassling people over it.
I suggest that you find out what the knife laws are in your specific part of California (this is a good place to ask). And if it is in fact legal in your area to openly carry a fixed-blade, then I would suggest that you make a printout of California penal code 20200 and carry it in your wallet to show any cops who wish to
inquire about your knife so you can show them that you are following the law. I know of a few people who saved themselves from having a serious
misunderstanding with the cops, and having their knives confiscated, by showing them such a printout.
Here is a link to CA pc 20200 direct from California's official state website-
http://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PEN§ionNum=20200 This is the specific law in the California penal code that makes it legal to openly carry a fixed-blade. Notice that there is no mention of restrictions on blade length or type of knife.
And even if it is legal to openly carry a fixed-blade in your part of California, you need to know that it is illegal everywhere in the state to carry such a knife on any public or private school property k-12 (CA pc 171.5). There is also a 4" limit on the length of blade you can carry onto airport property (CA pc 626.10).
If you have any further questions feel free to ask. You came to the right forum.