This study refers to an analysis of the durability of forging tools applied in the second operation of producing a valve forging from the chromium–nickel steel, NC3015. Due to the extreme working conditions of the tools, caused by cyclic thermo-mechanical loads, the average durability of tools made from tool steel WLV (1.2365) equals about 1500 forgings. An in-depth, complex analysis was performed on the technology, using macroscopic tests combined with a measurement of the wear/allowance on the tool working surface through 3D scanning; microstructural tests by means of light microscopy; observations of the changes taking place on the working surface with a scanning electron microscope; microhardness measurements; and multi-variant numerical simulations. It was established that the key issue is the proper selection of the process technological parameters, such as the input material and tool temperature, friction, lubrication, tribological parameters, type of tool material, or punch design, because even small changes made to them significantly affect the service life of forging punches. Therefore, to increase the durability of the forging dies, alternative materials made of W360, as well as two high speed steels, S600 and S705, were applied. However, the implemented punch materials did not bring the assumed effect of increased durability, as the highest average durability of steel W60 equaled only 1500 forgings, whereas in the case of the tool steels, this was below 900 forgings. For this reason, at the further stage, punches with sintered carbide inserts were introduced, which made it possible to significantly improve the durability up to the level of as many as 20,000 forgings, which, at the same time, points to a promising direction of further studies on the use of materials and solutions of this type.