I wanted to share a few things on how I make arrows at a very low price (by todays standards). These work well, but you won't win any 300 rounds with them or see a hard core competitor use them but they work well for all other shooting / hunting applications.
For starters you'll need a fletcher, a feather chopper, and a taper tool. I don't include those in the $.92 claim since they'll be used over and over.
Now for the materials I used a 5/16" birch dowel from woodcrafter.com they cost $16.00 / 100, making them $.16 each. Check for knots and runouts and other weak spots, (like Scattershot mentions later on) Also use heat or friction on the kinks and straighten them first. I used full length feathers from Sagittarius Archery for $25.00 / 100, enough to make one arrow costs. $.38. I used nocks from 3 rivers, $.11 each and points from 3 rivers as well, at $.27 each. There is an initial investment but it pay off big in the long run.
Fist I like to "bar" my feathers, the ones already barred cost more. I use a fat sharpie,You can also use leather dye, the sort with the round foam applicator and make dots or half moons,
I make a pattern, in this case I did 'h" shape on the white ones and lighting bolts on the orange ones,with random dots. Mark from the top down and perpendicular to hairs (I dond't know what they're called) or at a 45 degree angle to the quill.
Then I use a 4" parabolic little copper and make the chops
Here's how they turn out
Then taper the shafts with a taper tool of your choosing in stall the point and nock. For all the gluing, nocks points and fletvching, I use cheap dollar store super glue gel. 3 tubes for a buck
Then fletch it, I have a love/hate relationship with the Jo Jan.
Here's the $.92 arrow, It's cut 29" BOP and wieghs 510 grains, and spines around 38#, which makes it work well for recurves and longbows with shelves in the 40# range and makes them perfect for 50# english style longbows that require a weaker spine. (Remember they are 510 grains.) I like to use an acrylic base spray to seal them once they are fletched, and it seals everything and won't hurt the feathers.
I used my 53#, bamboo backed hickory longbow, no rest no shelf, no side plate, just off my hand, and it goes right where it should go. Notice I added a section of an arrow wrap to crest it. I just use peice of wraps so they'll go furthur.