So I'm in the market for a new pocket knife.  I currently have an old leatherman ps1, but I'm now looking for something a little more traditional.  I'm open to either single or multi-blades, but I want it to be a locking hinge.  Also I don't want to spend more than 30$.  Does anyone have one that they love and could recommend?   Thanks guys

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I carry a Gerber Mini Paraframe. It has never failed to cut something for me and it is easy to sharpen. I would be upset if I lost the knife but at it's price it is easily replaceable. It has a locking blade and I also remove the pocket clip to make it a bit thinner to fit better inside my pocket. I can't say it is the most traditional looking knife but it doesn't look all that strange either.

I carry the Gerber Paraframe.  $25ish at Walmart, come in either straight or semi-serrated (1/2 of the blade closest to the hinge).  Good enough for daily use, cheap enough I don't mind using it as a tool (light prying, screw driving).  Easy to use one handed opening and closing (although closing requires just a bit of practice since it is a frame locker) and the pocket clip makes it very easy to keep handy and not lose. 

The Mini Paraframe that Paul mentioned is virtually identical, just smaller.

Honestly, under $30 I would just make sure it fits your hand well and that the blade is good steel.  In other words, no $5 gas station specials.

If you want really traditional - Case makes a good number of them in your price range - though the locking ones usually kick it up another 10-15. Both their stainless blades and CV (I prefer the CV) are high quality. 

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