BEST TOOL STEEL GRADE FOR AIRGUN SLUG MOLDS

I would use M2. It is a high carbon steel, good machine-ability. Very stable size wise so it can be finished prior to heat treat. It is about 26 to 28 rockwell in its soft state. For cast pellets I would not harden it, if you're swagging them I would vacuum harden it to 58/60 rc and double or triple draw. As far as tolerances go, based on pellet selection for head size I would say +.01mm/-00 (+.0004"/-00)