For me personally, Cold Steel has never appealed to me, mostly just because of the style their knives have, so I have not owned many, but I know a but about the company itself.
Many are overpriced for the materials used. Overpriced is an arbitrary term, because design comes into play, but the general consensus is that you could probably be getting ”high class” materials for your money.
A bigger concern is QC. Until recently, Cold Steel has been known for excellent QC and American based customer service, headed by their founder and CEO, Lynn Thompson. However, Lynn recently sold the company to a supergroup known as GSM, and so everything they’ve put out in the last year or so is automatically suspect.
With knives, heat treatment on the steel is a significant % of the quality, and if you can’t trust a company, it means you can’t trust their HT. Hence, you can’t trust your knife. GSM has been suspect in the past.
On the Hatamoto in particular, it’s been discontinued, so the QC and heat treat are probably nice, However, for a price tag (new) of $300, the materials are lacking.
They quote the blade as being “San Mai III” which is a bigger misnomer than calling a packing a bucking. Both “San Mai” and “Damascus” steels are actually just different ways of processing regular steels, and have little to zero effect on the quality of the blade itself. It’s all about the steels used.
In particular, San Mai is the process of laminating three pieces of metal together, so that you can use a different steel and a harder heat treat on the one forming the actual edge of the blade, in hopes of the softer and tougher steels on the outsides bolstering it’s resistance to chipping.
However, I see no mention of steels used on the retailing websites, which almost always means that the steels are “mystery meat” style steels that they don’t want to brag about.
I believe Cold Steel probably isn’t using mystery steel though, and given that the knife was produced around 2010, I have a strong suspicion that the steel used was a Japanese alloy called VG-10, commonly used today in moderate to high class kitchen knives.
VG-10 was a decent steel in it’s time, but is mediocre by today’s folding knife standards. It has middle of the road edge retention (how long it stays a razor), good corrosion resistance, but lacks in toughness, meaning that it’s susceptible to chipping.
The retailers’ claim of having superior “strength“ is plain old false. Twice over. Once, because I am in extreme doubt that they used the best steel available at the time (even assuming it’s not, in fact, VG-10 like I suspect), and second, because many new steels have been formulated and come into popularity since then as to bump VG-10 into a budget steel.
For the full nerd report on what VG-10 is actually like (assuming my hunch is correct), look up “knife steel nerds test 48 steels”.
Moving on, in modern day standard, having G10 (the black part of the handle) is something that should only really be an option. Full titanium easily falls within that price range. (I start expecting full titanium/carbon fiber after about $180). While it was probably a cost cutting choice back in the day, today you should view it as a style choice. If you like it, sure, but for $300 the materials could be nicer.
Their claim of having superior lock strength is completely irrelevant. If your lock is even halfway to okay, the blade will always break before the lock. Always. Manufacturers will claim lock strengths in the hundreds of pounds, but their blades will chip after as little as five pounds of impact force (should realistically be in Newtons, but I’m not that nerdy), and at BEST, 45-50, which only the toughest steels achieve. Don’t write me off as stupid on this one, there’s a standard test that makes my numbers sound a lot more realistic. Google knife steel toughness testing, and don’t stop until you find real data, not “dis is tuffer den dat”.
In conclusion, I would call this a collector’s item, and they very well may sell for $100s on the secondary because of collectible value (I’m not a Cold Steel expert, so I don’t have a good guess on secondary value). In terms of practical functionality and what you’re getting for the price, this is a no.
This knife, manufactured today (and let’s assume we automatically upgrade it to nice ball bearings and a nicely made liner lock, so to be modern), should run you about $75 to $90, depending on who’s making it. If it didn’t have the titanium bolsters, I’d call it a $50-70 knife.
People (at least used to) love Cold Steel for their quality, QC, customer service, and the fact that the owner was both a nice guy and a goof and cut stuff up on YouTube. If you’re considering purchasing this one, evaluate what you consider important. If it’s luxury and quality feeling, this will not be your knife. If it’s that you want to murder watermelons in your backyard, by all means, be my guest.