Hardware store stuff could be most anything. I don't think I've ever even seen it graded. I generally think of it as "whatever random junk we managed to melt together". It's usually not horrible for the sort of thing general DIY types use it for. But machining just calls for a little better material. Even cold rolled 1018 from known sources is generally decent, though certainly not my first choice. If you can, get some 12L14, that stuff is great to work with.
I've got some magnetic unknownium here that I picked up cheap. It's okay, but annealing it helped a lot. It's still tough, but not nearly as hard on tooling.
I've got some magnetic unknownium here that I picked up cheap. It's okay, but annealing it helped a lot. It's still tough, but not nearly as hard on tooling.