Leatherman Price Hikes: Why These 4 Keychain Multi-Tools Deserve Your Attention

Introduction

Leatherman has recently raised prices across several of its most familiar tools, and the changes are significant enough to reshape how we think about small multi-tools. The Micra, a keychain-sized classic that has sold for around $35 for years, now sits at $50. The MUT, one of the most engineering-advanced multi-tools Leatherman has ever built, is back in stock but now costs $200, up from roughly $160 to $150 previously.

For anyone shopping for a small everyday carry tool, that shift changes the math. Fortunately, there are strong alternatives from Nextool and Victorinox that fill the same roles, often with better cutting performance at lower prices. This guide breaks down four tools worth knowing about before you spend your money.

Leatherman MUT: Advanced Engineering at a Premium Price

The MUT is back in stock on Leatherman’s website, which is genuinely good news for anyone who has been waiting. It remains one of the most engineering-advanced multi-tools ever built, with an impressive tool set and a wide range of capabilities that showcase real design prowess from Leatherman.

The complication is the price. It has jumped to $200, which puts it in rare territory for a multi-tool and makes it a purchase for committed enthusiasts rather than casual buyers. If you have wanted one for a long time, it is available again. Just go in with clear expectations about what it now costs.

Leatherman Micra: A Long-Standing Value Story Comes to an End

The Micra has been around for more than 30 years, believed to be the fourth tool Leatherman ever made, and it has historically been an affordable keychain option. That story is harder to defend at $50, especially given a persistent flaw: the scissors.

Older Micra units cut impressively, with rigid blades, a precision tip, and clean cuts through demanding materials. But Micras produced roughly between 2000 and 2006 onward have shown softer cutting performance: the blade edges flex too much, the cutting geometry feels off, and the fit is not always perfect. Even forcing the blades together by hand does not produce a clean cut, because the flex prevents the blades from shearing properly.

The inner tools themselves remain excellent. The problem is isolated to the scissors, and it has persisted for more than a decade without a fix. At $35, the Micra was an easy recommendation. At $50, with scissors that still underperform, it is a much harder call. If you can still find one at the old lower price, it remains worth grabbing. Otherwise, the alternatives below make more sense.

Victorinox Alox Classic: The Scissors Benchmark

Victorinox has quietly become the standard-setter for small scissors, in both 91mm and 58mm sizes. The 91mm scissors cut like butter, offering precision and tip cutting ability that surpasses even larger dedicated tool scissors. The small 58mm scissors on the Alox Classic are just as impressive.

A well-used Alox Classic that is 10 to 15 years old still cuts without flex, handles tough cord material with copper wire inside without hesitation, and retains a precision tip for hygiene tasks. That combination of cutting performance, precision tip, and compact anodized aluminium form is what the Micra’s scissors fail to deliver.

Nextool Mini Flagship Pro: The Plier-Based Alternative

The Nextool Mini Flagship Pro takes a different approach, built around a pair of pliers as the center point in the same spirit as Leatherman’s retired Squirt-style tools. It also includes a small pair of scissors that performs far better than the Micra’s, cutting through paracord with an embedded copper wire cleanly, stopping only where the wire itself sits.

The main scissor on the plier-based version is notable: brand new out of the box, it cuts with almost no resistance, all the way to the tip, with no flex at all. The cutting geometry is well executed, and the whole tool feels rigid and thoughtfully made. For anyone who wants a keychain multi-tool with pliers plus functional scissors, this is a compelling option.

Overall Buying Advice

The core lesson from the recent price changes is simple: $50 now buys a lot more capability elsewhere. In fact, the Nextool Mini Flagship Pro and a Victorinox Alox Classic together can still come in under the price of a single Micra at the new price, while covering more use cases between them.

For pure cutting and everyday tasks, the Victorinox scissors are the best available by a wide margin at this size. For a plier-centered keychain tool with genuinely usable scissors, the Nextool Mini Flagship Pro is the strongest current pick. The Leatherman Micra only makes sense if you find one at a much lower price before stock runs out, and the MUT is a specialist purchase for buyers who already know they want its unique tool set.

View more details for Victorinox Alox Classic

View more details for Nextool Mini Flagship Pro

Conclusion

Leatherman’s price increases have changed the value picture for small multi-tools. The MUT remains an engineering standout but now commands a premium price. The Micra, despite excellent inner tools, is undermined by scissors that have underperformed for over a decade. Meanwhile, Victorinox and Nextool offer better cutting performance at friendlier prices, making them the smarter starting point for most buyers today.