Sometimes cheap tools do the job, and other times there is a huge difference between cheap and quality. I was just using a pair of Craftsman needle nose pliers that I have had for ten years. They were I think $12; the cheap ones are 99 cents, but they only last me a few minutes before I bend up the tips and make them unusable. Craftsman makes some nice hand tools. I'm not a fan of their cordless tools or power equipment, but their wrenches and pliers are very high quality.
I think Estwing makes the best hammers. I won't have any other brand.
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