There is practical use for the mild steel HF punch and chisel. If you watch Timken YouTube video on how to properly install ball bearing, Timken does not recommend using hard punch as it can damage the bearing. Generally you do not want to pound two hard metals together as dangerous metal chips can fly everywhere. Timken also do not recommend drift punch (brass and bronze) as they tend to shatter and can leave metal particles inside the bearing. Timken recommend mild (soft) steel punch, so don't throw away those HF punch and chisel yet.

