Drift -

: Forge a long taper at one end to enter the hole and a shorter taper at the other for striking.

: Work the piece from a square profile to an octagon and finally to a round or specific eye shape (like for an axe). : Forge a long taper at one end

: Perform a "midbar upset" to thicken the section where the hole will be. : Forge a long taper at one end