Dennis,
The cold rolled sheet sold at Lowes, Tractor Supply, etc., as "weldable steel" is pretty safe -- both in 16 and 22g. It will work as long as you can expect without hardening too much and will file/polish beautifully and easily. Not terribly expensive given the small quantities in a rifle -- one sheet of 16g. will do more than 1 to several rifles depending on how much you use it for.
PB hinges, however, are a pain. You only get one or maybe 2 chances to roll that bit over for the knuckles. Heating might help, but the best thing seems to be just to go slow and hit your mark as close as possible the first time and then file and hammer discretely to cover up any small boo-boos. There is one alternative in a pinch (as in when you get tired of cutting out finials or lids
: you can use 22g steel sheet to make an applied hinge like the one on the rifle Larry Luck shows in another thread (which I filed mentally the first time I saw it!). I think it adds a decorative element to an unengraved iron box, and it may allow you to up the knuckle count. On the one I did, I could not get more than five knuckles successfully in 16g material, even when thinning it out with file and hammer before rolling, but I managed to get 7 with the applied hinge after a couple of attempts. I intend to get 9 knuckles on the next one, hopefully in the same material as the PB, but I won't hesitate to improvise if it doesn't pan out!