You don't have to buy junk, but you should know there is a real line in the sand when it comes to tool steel and its utility use.
Chisels are made from just about every kind of steel, depending on the make r and their specs. But the real story to steel is its designed uses and it s heat treatment when annealing/tempering. I am a confessed steel junky, n ot as bad as I once was... but still... good steel makes me happy.
LN's A1 is no more than "OK". For the money you spend, they should be grea t, not just good. My personal experience with them wasn't great. Most of your air hardening steels such as A1, O1, etc., aren't that good at holding an edge but were developed (in the case of A1, in Japan) for tool/die work that required good abrasion resistance and toughness. I like O1 for cutti ng tools more than A1, but of the three I like D2 best and have purchased s everal cutting tools with in D2 and its finer carbides hold and edge better (when properly treated) than most other tool steel. I really like D2, but it is too hard for most to sharpen.
BTW, the "meh, OK" remark about LN chisels is also shared by Fine Woodworki ng:
So what to do? You can go to the best steel such as the Crucible metals or the newer high speed tools that use M2, etc. and give away a pay check per chisel, or you can compromise.
When I started doing woodwork in a shop 40+ years ago, all the chisels were 1095, 1084, and some of the heavy "slicks" were 5200. A few of the chisel s I used later had extra vanadium in their formula, but were still just car bon steels.
I hate to sound so pedestrian, but they worked just fine. The old chisels were softer than I liked being hardened only to about 55 or so on the Rockw ell scale, but that also made them easy to sharpen, hone and touch up.
There are good values on these chisels out there if as pointed out before y ou do some scouting on your own. For example:
or
These types of chisels can do the work you want and you can probably get th em at a good price. Might take a few tries, but then again it might not.
I understand the money crunch as much as anyone, and I don't think you shou ld deny yourself the fun of using a sharp chisel (even if you have to touch it up more than the more expensive models), one that was made for a specif ic job. By the way, a paring chisel is a great choice for the work you desc ribed, but you should know that if you are only working on material 1/2" th ick, a butt chisel with the bevel eased back a bit on the edge will work ju st fine.
The chisels to stay away from no matter how tempting are the new Buck Broth ers, and in that line nothing newer than about 25 years old. No Sears Comp anion line, although I have been pleased with utility value of their old ro und handled butt chisel line. No generic "Sheffield brand" which are now s old as a brand, not as a particular steel product. No Harbor Freight. No off brands that are poorly milled and poorly finished.
One last thing, check this out for a ton of really valuable information and some good opinions:
Good luck!
Robert