I haven't seen anything on this topic for awhile and I have the hankering to try my hand. I have some 01 and D2. I've seen some write ups on cold forged D2 but this seems to me to be a really hard steel to start banging on. Would 01 be that much easier? Maybe I should go pick on some 1095 first.

What do you think?

Also is it worth my time to pursue? Will I get some performance enhancement through cold forging? I've heard both yes and no.

Thanks,
Doug

Hi Doug!
I've done some basic experiments with this method, and have found that on some of the more difficult steels to forge such as D-2, and the M series steels, it does show a marked performance improvement (cutting ability) over the same materials that are straight stock removal. It does not seems to have any effect on the brittlness.(making the alloy tough or more flexible)
It is a long tedious process. The hammer blows must be many and light to improve anything without fractures in the grain structure. I would recommend using something other than your good anvil though, as any slips or misses will result in dinging the face. (I did this too!) After the first try (and failure), I started using a chunk of RR track, and an old hammer. Mostly concentrated on what would be the edge, and found that with many, many light blows, you can get the job done, and realize some improvement. Personally, I doubt I'll ever do much of it, simply because I still can't achieve the durability I desire (as I get with 5160 or 52100 hot forged. It's always fun to experiment, especially when you can get some improvement from your efforts! Let me know how it goes.