So I should be searching for a tool thats higher ranked? Cause there is a level 7 bronze hatchet... Would getting that help me get better items while chopping trees?
In short, yes. The better the tool the easier it will be for you to get more/better items. However if you get a tool with an optimal rank of 42 for example, but you are still only 11, you will only get a percentage of the tools benefits. But you wouldn't have to get a new tool until you are higher than 42 etc.