Looks like this has just become me cataloging my journey. Well, if anyone can offer help along the way, please do so

. I'll probably just keep adding to this post unless something worthwhile happens.
PoN is roughly 40,000 words more than LotR, though I am assuming that doesn't include the appendices in either case, and obviously not the maps.
Used this link:
http://loopingworld.com/2009/03/06/wordcount/Confirmed no indices/appendices.
100k works is roughly 250 pages, so about 100 extra pages in PoN compared to LotR.
Omnibus potentially possible though also (still) potentially ridiculous

.
I have yet to look at the actual page counts as I keep forgetting.
JellyBeansGalore, do you know much more about making cover art? Once I get the initial capital for supplies, I'm going to try to bind one. I don't think it will be too difficult. However, I'm not even sure what supplies I'll need to get started. What tools are required? Assuming I don't have anything, I imagine it may be expensive.
For the book:
Leather, boards, adhesive. Seems too simple. What did I miss?
Tools:
Bone folder, cutting mat... And what else? I'm going to assume I need something to cut the leather with, but are there special knives, etc, for that? What else would I need (for example, to thin the leather)?
Since I'm only rebinding the cover, I'm not too worried about that. Once the book is bound though, that's when the problems begin. How difficult is something as simple as basic lettering, like the title/author, etc. I can probably do that as well, unless you need some kind of machine.
The specialized artwork is something I know I'll never be able to do myself. Can the leather be stamped with the design post-binding? What is that process like?
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Minor update and answer to some of my question:
The design is stamped onto the cover post-binding, to ensure that its centered correctly.
From what I can tell, a common technique for the cover is 'hot stamping', which basically heats up a block of metal and presses a specific kind of foil designed for this process onto the book.
I have the ability to schedule time on a laser etching machine, so I could potentially get the stamp made myself, however it cannot do metals. I need to figure out the specifics, but the most likely candidate for that machine would be some kind of acrylic, but that might not be able to be heated up enough and/or strong enough to hot stamp the cover. If anyone has knowledge in this area, I'd appreciate some know-how.
Otherwise, it appears that magnesium is the cheapest metal that is typically used. I'm endeavoring to get this made myself to hopefully avoid some middle-man fees, so I'm currently trying to find a place that can machine the intricate design.
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Photo-etching has been suggesting as a cheaper alternative to machining/laser-cutting the design. Anyone have experience with that?
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Officially got a quote to get a die made.
$350 on magnesium.
Charges include a $35 fee for someone to manipulate the electronic file. The rest is some combination of labor and material cost, but I could not get it broken down further. They use Photoetching.
Now I have more things to look up.
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I have sent some emails seeking information from various places in my area that might be able to help. I have potentially unique access to some machines at a local university that might put me in a great position to make dies cheaper than most people could hope for.
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Hmm no good. Seems they have nothing for metal and the laser cutter only cuts, it does not etch (fair enough)
I will carry on then. Still looking for alternatives to metals, and looking for a bindery with the know how to use them.
GJ suggested:
http://hot-foil-stamping.com/ . Might be useful.
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Found a fairly local place that might be able to get me some magnesium dies cheap. Might be able to them for more like $100 each, which seems reasonable.
I'm looking at leather at the sites JellyBeansGalore linked above. Anything from $10/sqrft (sqrft = square feet, for you people that use real measurements) to $100+. Minimum is around 4-6 square feet depending on the size of the leather, custom orders are not accepted. I might go with the $10 one, hopefully its the correct dark grey color, and its imported italian calf leather, which sounds fancy, but obviously the price speaks for itself.
Anyone have thoughts? Would using a cheaper leather be noticeable? Would it be worth doubling or tripling the cost for nice leather?
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Next road block, finding someone to stamp the books. It appears that I have taken the entire profit margin out of the process for anyone (which was kind of the point), but I can't do the last step on my own. I have a feeling I'm going to get charged a bunch for someone to spend 5 minutes setting up a machine and flipping a switch. I will have to discuss with my binder the process, so I can figure out if its worth just using her machines and getting dies made specifically to fit the press she owns. I also still need to find foil costs.
But hey, I'm getting close to the end here. Leather found, binder found (and/or teacher), dies found. All that remains is to find another option for the press, and the foil cost. Then I can make a book.
After all this, I'm not sure I'll come in much under the lower, more reasonable quotes of $500, but we shall see. If all goes well, I'll let anyone who is actually following know. Maybe post a picture or something. I think maybe 3 people have suggested they might want one, so we'll see what kind of price I could make you(them) one for, though that will involve asking Rankine what he would want to charge for a reproduction fee for using his artwork. Potentially any savings I would hope to pass one may be absorbed into that charge, but maybe it will be reasonable (I doubt it).