5160 is a fairly common low chromium spring steel. It is an older steel so most people do not give it the credit it deserves.
It is very popular for hot forged blades as it works easily and with practice can be reliably heat treated by the hobbyist at home. It forges easily though is prone to cracking if worked below temperature. 5160 readily takes an edge an has a potential to be very durable when flexed. It is prone to surface rust hence the powder coating on bucks offerings, however it takes a long time for serious rust damage beyond the surface due to the chromium content.
It has been largely supplanted by 1095 due to 1095 having slightly higher edge retention, 1095 also seams to throw a spark off a ferro rod better, a down side to the chrome in 5160 as also seen in most stainless.
Common industrial uses include auto leaf and coil springs and agricultural machinery blades.
Cold steel's proprietary "Carbon V" steel is a close enough variant to be considered comparable from what I understand.
It is essentially the same steel just a small trace element difference to make it proprietary and therefore "special". You would need to be a true metallurgist with a lab to tell the difference between a blind sample. In the end it comes down to process as to the final properties of the blade.
« Last Edit: January 26, 2015, 10:01:30 PM by Noa Isumi »
I used to be a lot of things, and someday will again.
But for now I'm just a lost jack of trades with neither mastery nor home. ~NoaIsumi