Abstract: A cold forging apparatus for producing a metal tip for use, for example, in an electrode of a spark plug includes an intermediate die for receiving a metal blank, an upper die having a punch for forming a recess in the metal blank, and a lower die movable in a lateral direction. A press member is mounted on the lower die, and is retracted when a projection, extruded from the metal tip by the punch, is brought into pressing engagement with the press member. The punch is driven into the metal blank to form a recess and the projection respectively on upper and lower surfaces of the metal blank, and subsequently in a hydrostatic condition, the lower die is moved laterally to remove the projection from the metal blank.