Identifying the most appropriate sequence of cold forging operations for a new part requires a number of technological and economical evaluations concerning loads, mechanical properties of the forged component, its producibility on the machines as well as costs for equipment and associate tooling. This paper presents a methodology for estimating initial and maintenance costs for cold forging tools. This methodology is for use of planners at the early stages of process design, when the sequence of forging operations and equipment are decided and before details of the tooling system are available.