The Source
Iron, folded with a whisper of the air door — the anvil-singers' first step above the floor, and the one the journeyman's edge is made of.
The Yield
A forge's load of iron gives a blade's worth of steel; the folding is the maker's time, and the time is the one the guild charges for.
In the Workshop
The steel is the guild mark in a word: it works, and it is made right, and the right is the one the name on the fuller is worth.
Cost band: journeyman (base of the guild price) — on the ladder in The Maker's Hand, the material is the floor, and the floor is the one the mine or the marsh or the tree has to give. Recipes that take it: forging, smithing