HVOF two layer coatings consisting of Diamalloy 2002 (top layer) and 4010 (bottom layer) onto carbon steel sheets are carried. The microstructure and chemical composition of the resulting coatings are examined using the Scanning Electron Microcopy (SEM) and Energy Dispersive Spectroscopy (EDS). The indentation tests are carried out to evaluate the microhardness and surface elastic modules of the resulting coatings. It is found that the coating produced for Diamalloy 2002 results in higher hardness and elastic modules than that corresponding to Diamalloy 4010.