I had seen a video in You Tube for a storage solution for craft punches, and in particular Martha Stewart's. This used Cafe rods and Pin Board (hardboard with holes drilled all over it). I had seen another version using Bygel rods from Ikea.
My version uses 8 x 55cm Bygel rods and a piece of Pre cut 3mm MDF, 610mm x 1220mm. The fittings are picture frame fittings and, as we have a house with picture rails, it is hung from picture rail hooks. I drilled holes as needed, leaving 5 inches between the rails for the smaller punches and 6 inches for the larger ones. I fitted the rails with M4 x 12mm nuts and bolts, these were the shortest I could find and in fact anything shorter would have been a real fiddle to use (but you could use M5 bolts).
Because I wanted a coloured background I painted the MDF after I had drilled the holes, but before I fitted anything. I found the cheapest way to get the paint was to buy a Dulux colour match sample pot, these are 250ml and give enough paint for three good coats when applied with a mini roller. Because I was going to store, mostly, Martha Stewart punches I chose a colour that is similar to her blue.
I am really pleased with the final article, it took about a day to complete, although much of that time was literally watching paint dry. I have now got a really smart home for my punches, where I can see what i have got, and a whole shelf freed up in my cupboard. I am really pleased.
FYI, if you have some odd shaped punches you want to store, you can get little baskets that hang from the rails which would hold these. Obviously they only work on the bottom rail, but worth remembering. I may have to go back to Ikea to get some.