For many years since I properly sharpened this draw knife and used it some, I wrapped the razor sharp blade in a paper towel tube. I was still scared (very careful) to reach into the box where it was stored clanging around with other stuff. The sheath is a sandwich of 1/4" walnut where the spine is only about 3/4", leaving a "dado" for the blade to rest in. When stored (on the left), the blade is placed in the sheath with the sharp edge against the spine and the thumb screw turned home. It is a short screw that is threaded directly into the wood and extends almost to the other wall, locking the blade in the sheath. The handles are then about the same height as a wood plane and fit nicely in the same drawer. When in use, I turn the sheath over and place the knife in it (as on right) where it stands on its own quite well, but on the bench I'll put a wooden jaw hand clamp on it to increase the foot area for extra stability. The sharp edge is protected and the screw is left backed out of the way.
Dan is an experienced woodworker who is anxious to make an heirloom of the future for you.