I redesigned my wall-mounted chisel holder so it protects the chisels’ cutting edges, but only requires minimal clearance above the handles.

In each chisel slot, I drilled a hole to accommodate a 14 "-diameter rare-earth magnet with a matching steel cup (Lee Valley Tools, no. 99K33.10, 800-871-8158, leevalley.com). When mounted to the wall, the magnets secure the chisels with the cutting edges protected, but the chisels lift out easily without interfering with any tools that are mounted above.
—Bob Catterson, Pewaukee, Wis.