I know this was one of the harder things to find and figure out. You can do several things. Buy wadding from the Gun store which is about $7.50+ for 100. Or you can buy 1000 wads for $12+ Shipping from Dan App. Great guy has good prices. This is the easiest way to go.
OR you can buy a 7/16 Arch Punch. You can find them on Ebay for about $8 plus shipping. Make as many as you need.
1000 for twelve bucks is the way to go. Lots of places sell 45 wads, look in the black powder sections. Even buying the punch you still gotta buy material, you'd need to make a couple thousand to even come close to breaking even. My time is worth more than that.
Ya that seems to be the going rate on the net for paper carbord wads. Still more then cutting your own. Best thing to cut them from is paper milk type cartens. Free with ever purchase of Juice or the like. Also the only ply carbord that comes with a lot of different things. I have a lot of that around here. Also file folders work very well. Can cun 24 at one time and took me about 15 min to cut 500 of them.
Big thing what ever you use the pack must be TIGHT and stay tight with no air pockets between the black powder and the wadding.