If you've got the time and patience you can make your own kydex/concealex sheath. It took me about an hour to make a sheath for a Busse High Street, pancake style for a low signature. For the S5/S5LE I'm going to make a fold-over style. I got enough supplies to make six sheaths for about $50, including 100 rivets, the rivet tool and two nice clips. Its not as nice and professional as the sheath makers on the forums but it is cheap.