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I would suggest an economy one piece chisel ..weigh between 4.5-5.5 lbs..heavy enough to get the job done and light enough to bring every outing ...one piece means no parts to lose .Eskimo ..Frabill ..Mills Fleet Farm have versions that you can find online with discounts and sales ...$20-$25.
I ended up getting the Cabela's one piece at 6 lbs. Now to just get striker to ship my suit and I'll be set.
My home made spud weighs in at 4lbs. Wouldn't want any more than that or I might not use it. I used a hollow piece of common pipe, then pressed in a 1 foot piece of solid round on the business end with a chisel point ground on. On the handle end I used tool wrap to protect my hand from the cold metal. Finished it of with a piece of rope for a wrist sling. The trouble with using rebar is that it has no spine stiffness. Like an arrow good spine stiffness gives you good penetration. Last winter I made a few extras for my fishing buds, now I just let these guys go first. LOL.