There is 2 types of Silver steel.
One grade is also called W1 steel. It is a Water Quench oil. The original Stubbs Silver steel was a W1 steel.
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Pedant alert! Not that it makes much difference in a home workshop, but W1 isn’t the same composition as Silver Steel. W1, aka Drill Rod, is the American equivalent of Silver Steel – different composition.
BS1407 Silver Steel contains about 3x more Chromium than W1, whilst W1 contains Nickel, Molybdenum, Tungsten, Vanadium and Copper not present in BS Silver Steel.
115CrV3 is another possibility – composition like BS1407 except the amount of Chromium is doubled plus a dash of Vanadium.
All these alloys are specifically formulated to simplify and de-risk hardening with heat and quenching. Their main target is small tools, which is why stock only comes in precision ground small sizes.
The variety available begs a question! What exactly do I have? Could be original Stubbs, or one of his many imitators. Or might be W1, 115CrV3, or BS1407, depending on where it came from. I just order ‘Silver Steel’, leaving it to the supplier to decide. Mostly doesn’t matter, because I only harden small parts well-enough to take an edge without being too brittle. Though I do that well enough, much more skill is needed to harden large objects. Then knowing the metal’s exact specification might matter.
However, the material we loosely call ‘silver steel’ being available in at least 3 varieties, might explain the odd failures we sometimes get when using it!
Judging by its composition the chief advantage of BS1407 is cheapness: W1 and 115CrV3 were both developed later, and because both are more costly to make, I guess their performance is subtly superior in some way. Dunno.
Dave