Just to lend some perspective on the cost of the 'newly' machined binder bolt, I have a 1965 Cinelli and back in 1982 or so, a few years after I bought it, I broke that binder bolt. Don't know what I was thinking or doing at the time, but boy that still makes me cringe. At the time I was a starving student working in a bike shop. The best thing we could come up with was a stove pipe bolt and nut, trimmed off to fit. Well it worked, but it sure did take some luster off the bike. Later that summer, Ralph, the owner of the shop I worked at in East Lansing, MI was talking to one of the salesmen that was in the shop. The guy was into older (for the time) bikes and was able to get some of the harder to find parts. He had the part I needed. The only problem for me was that it was $20. Again, I was a starving student and this was $20 in 1982 dollars. I had no choice if I wanted to get the part, and on top of that I knew the price was being discounted as a favor to Ralph. I can't imagine that many of these pieces were made back then, and very, very few if any got into circulation as after market replacement parts. Given that, and the worth of a dollar today compared to that same dollar 22 years ago, I'd say that $50 isn't a bad price for what is so small of a piece, given my experience.
rob hawks richmond, ca (a long, long way from East Lansing and 1982)