Hi, I actually use the same method for blades and silver. My idea is that it is important to use the least abresive method possible. Who knows how many more times the item will be cleaned before finally lost..
I use something called PEEK, made by Saffron Waldon in England. It is an all-metal polisher that is non-abresive and works for about anything: copper, horn, steel, etc. It was the first one I tried and I stayed with it. If the item has deep relief, I apply it with a toothbrush.
To make the sheen last longer, I use saddle wax based on beewax. If you clean well afterwards, the item will be bright enough and it will give at least some protection. I never use anything really fatty, even for blades, because it ruins the sheath.