Hi Woody, I make two piece spurs so have a welder. A TIG welder is the best you cam have, and I was lucky, my cousin gave me one. I learned to weld right away and got pretty good fast. So probably a welder is a must have unless you want to forge one piece spurs then you need a forge and an anvil and lots of patience, I started out that way
An angle/die grinder with flap discs to grind with will save you lots of time cleaning up the surface of the spurs prior to polishing-flap discs about $6.00 and angle grinder about $100.00.
A template made from steel to bend your spurs around you'll also need. It looks like the inside curve of the spur bent just like one and welded (on the inside only) to a flat plate,with angle iron welded to the bottom to fit in a vice.. It looks like an unmounted blank spur heel band, only the outside measurement across the base is the 3-1/4" you'll use for most spurs. Your flat bar stock is clamped with vice grips ( get a Bunch of those) at the top arch at the middle of the bar stock and heated with a gas torch (definitely need one of those too). As it bends around you can clamp it down, hammer, and keep going until you have the curve right. I made a spur bending device I bend them cold with but that's another article entirely
A good heavy duty grinding/buffing wheel is essential too-not the cheap desk top models with abrasive stones but one with much longer side posts to attach all manner of grinding, smoothing, and buffing pads to.
A metal cutting band saw is also a must, and the best alternative to a big rig expensive one (extremely difficult to find anyway) is a Milwaukee hand held band saw for metal. I welded a piece of angle iron onto my metal table at the side and have it as a vertical saw. I use clamps to hold it to the angle iron and vice grips to keep the power button held in place when cutting ( what would OSHA say?).
Those are pretty much the essentials: Tig welder, gas oxyacetylene torch (you can and I have weld spurs with this too), metal cutting band saw, good grinding buffing wheel, and angle/die grinder-these will take you a very long way.
Hope I made sense-Paul