A core pin used to create a cutting tool has at least one flute configured as an inverse shape of at least a portion of the cutting tool. Alternatively or in addition, a core pin has at least one step mold configured to form an axial surface with a stepped diameter having a diameter smaller than an overall diameter an outer axial surface of the core pin, and a radial surface between the axial surface and the outer axial surface. A core pin can include a main cooling passage mold and either a straight coolant channel mold or at least one arcuate cooling channel mold having a first end and a second end, the first end engaging the main cooling passage mold and the second end configured to create a coolant exit on a surface of the cutting tool. Carbide blanks are carbide material embedded with a core pin, and near-net shape cutting tools are created by pressing and heating the carbide blanks.