Top 3 Cigar Cuts and Cutters*
Cigar cutters are used to remove or penetrate the cap of a cigar before smoking it. The straight cut, the wedge (or V) cut, and the hole punch are the three basic types of cigar cuts. The size and/or shape of the cigar and your own personal preference will determine the type of cigar cut to make. Once you become an experienced cigar smokers you may not always use the same type of cut or cigar cutter each time. The most common cut is the straight cut, and is always preferred on cigars with a small ring gauge (thin cigars).
1) Straight Cigar Cutters
The single blade guillotine cutter is the most basic type of cigar cutter used to make straight cuts. The double blade guillotine cutter is preferred by many aficionados because it usually makes a cleaner cut. Cigar scissors are also used to make straight cuts, and may be the best choice for cutting the cigar at the exact spot you intend. However, the guillotine cutters are usually the most practical, the least expensive, and can be easily and safely carried in the pocket of your shirt or trousers.
2) Wedge Cigar Cutter
The wedge or "V" cigar cutter resembles the guillotine cutter, but the shape of the blade slices a wedge into the cap of the cigar instead of cutting it completely off. The cutter is designed to slice from one side, and at the same depth, so there is no danger of cutting too deep.
3) Hole Punch
The hole punch is used to put a hole in the cap of the cigar, instead of cutting it off. If the hole is not large enough for the cigar, the draw of smoke through the cigar can be impeded. Also, as the cigar is smoked, tar can accumulate near the hole, also affecting the taste as well as the draw. Here's a hot tip: In a pinch when no cigar cutter is available, or to sample a hole punched cigar without buying a hole punch device, a hole cut can be made in a cigar using a pen or pencil.
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* Article taken from cigars.about.com