There are better grades of steel for making cold-chisels, but they're harder to heat treat than silver-steel, and I suspect Chris' problem is caused by faulty heat treatment. The metal needs to be heated quickly and evenly to the right temperature and then smartly quenched. Like telling jokes, timing is critical!
- Important to prevent heat loss, I always build a nest around the item out of soft white insulating firebrick.
- My small 1kW torch is unable to heat a long length of steel evenly. I have to use two, which are cheap but hard to manage. Big torches deliver a lot of heat quickly over a broad area and are much easier to get right. Sadly, a big torch and gas cylinder are expensive for odd jobs.
- The nature of the requirement makes the heat treatment more critical than anything I've done. I usually only need a hard tip at one end and leave the rest softish. Chris seems to want a chisel hard at the tip, which only gradually softens towards the hammer end to resist bending. Unfortunately, the ratio between length and diameter of his chisel is over 30:1 making that difficult! Less than 20:1 is more normal and cold chisels are usually even stubbier; my slenderest is 15:1. To get close I think the heat-treatment needs to be near perfect, which is difficult with ordinary equipment.
What might help short of making a perfect chisel is arranging for the blow to the hammer end to accurately directed. When hit with an ordinary hammer swung in an arc, the force applied to the shaft will be slightly off-axis causing it to flex. Once a bend develops, lever action multiplies the bending force and the shaft kinks and probably fails catastrophically. A tool that delivers a hammer blow exactly inline with the axis allows much more force to be applied without bending the shaft. Perhaps a slide hammer?
Commerical cold-chisels are made of drop-forged hardened and tempered steel, usually one of the extra tough alloys. Much better than anything that can made in a home workshop or even by a well-equipped blacksmith. Buying one and grinding it down to shape would be the best answer, but it's a lot of work.
Dave