Best 50$ camp hatchet

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Great. More research to do! Guess I'll crack another beer and start looking. Thanks for all the links.
 
In your price range, a very good knife can be had. If you're set on an axe, check for a local Japanese blade shop. You can sometimes find decent deals on very, very good handmade axe heads. Some of the Japanese steel is pretty amazing. Add on a chunk of straight grained Hickory or Ash yourself (easy and cheap) to make them more personal- and voila! You have a pretty rad gift.
 
My dad gave me one of these when I was a kid. Very handsome looking with the leather handle and a great axe.
http://www.estwing.com/ao_leather_sportsmans_axe.php
AO_leather_axe.jpg
 
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