Originally Posted by Cerjak
at last may be readable !
Could be PAUL- U -- MEFICIT SOLINGEN
Played a lot with contrast, brightness, values, and levels in GIMP. Can't be certain. But I think the word on the left is Meigen.
Which according to google is a German surname. Furthermore according to pintrest there is at least one rapier attributed to a bladesmith out of Solingen named Clemens Meigen housed in the Philidelphia Museum of Art.
Looking at that example it appears he did put his name in the fuller in a similar manner and with a similar font/face. It's a lot of supposition I know. But it looks like a case that could be strengthened.