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Well, you can try to hammer it out, but you need a hammer and hardie that are properly shaped.
However, The much better way would be to use a shaped die that you can hammer a yellow hot blank into....

In theory, yes. But give it a try :) You'll see it is much harder than you might think. In particular, making an even hollow without dents and scars, keeping it symmetrical is difficult. And then you...

Interesting read. Thanks! Interesting to see that they hollowed the blade on the anvil.