This is the cheapest 1/8" chisel I could find ($8). It's not very good, but it's adequate for most tasks. As someone else pointed out (and posted a photo), the cross section of this bit isn't exactly square. Depending on what you want to do with it, this can be a problem. I wouldn't recommend it for chiselling. It wasn't sharp and the edge wasn't perpendicular to the chisel. The back end is acceptable and took me about 15 minutes to fix and sharpen. It will work as a hammer until I decide to buy something better.
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