Can mild steels be used in flashless forging?
Cheapest way to make coin-like objects in volume is stamping/punching. A tool is made and put in a press, strip of steel or other metal is fed in, and the punch comes down and punches out a coin. If you want a face on the coin, put it in a die, and hit it with another one to form both faces. If the edges look like about 1/2 or so is cut, and balance torn, this is it. Also have slight burr facing down (out) from torn side. If the edges are clean, can perform edge finishing operations. Flashless forging is a very accurate and expensive variation of hot forging. Steel is fine, but expensive process. Would not be used for cheap coin-like objects, unless perhaps if exceptional properties were required.