I also obtained a large quantity of slab and form cutters and slitting
saws at an auction. To store them I built 6"Hx6W"x18L" (internal
dimensions) top opening plywood boxes. The cutters are stored
vertically not laying flat. To keep the cutters from banging into
each other I use 6"x6" squares of polyethylene sheet to separate them.
I cut the squares from the sides of kitty litter jugs. They are a
little thicker than milk jugs. The sheets are tough enough to prevent
metal to metal contact and thin enough that they take up very little
space. For protecting slitting saws and very thin cutters the tyvek
sleeves for 5-1/4" floppy disks work well. I had to find some use for
the hundreds of 5-1/4" disks that I threw away. I was originally
going to use the disks themselves for dividers but I found the
polyethylene sheets worked better. If you don't have a cat, you can
buy thin polyethylene sheet from a plastic supply house. It isn't
very expensive.

If you leave a little space in each box, you can flip through the
cutters much as you would a stack of record albums. Lids on the boxes
are optional but recommended. You can also make the boxes stackable.

It is my personal opinion that if you keep the cutters in a box rather
than hanging them, rust is much less of a problem.

Regards