This hot punch was made from N7 steel. I needed a 3/8 in round punch to punch the tongs I would be making later in the day. This type of steel has a portion of chrome in it and is air hardening. I did most of the shaping of the tip and then drew the rest of the stock out and shaped it into octagon.
Here is the piece air hardening. Heated up to temp and then rested on some firebricks while it cooled.
Cleaned up this is the finished piece.