The well known paradox of Socrates seems well placed here, as we struggle with these conundrums and feel very much the same as challenged by these perplexing dilemmas.
In my latest round of research, I discover we have had this very discussion on the Hernadez' before, in 2014, but this time I think we have much better traction.
I think I most agree with Fernando's suggestion ( post #8) in that the use of the 'PIETRO' alternate for PEDRO in Italian parlance was likely a condition of attitude, meant as a pretense toward the fashion of the times toward the art of fencing. While Italy had been a leader in arms and armour design and fashioning as well as development of fencing, the Spaniards were by the advent of the 17th century developing their own abstruse mathematically oriented style of swordsmanship.
In 1561, the Spanish Royal Court moved from Toledo to Madrid, and the demise of industry, particularly the premiere sword production factor was quickly faltering.
We know that Sebastian Hernandez (el Viejo) was working in Toledo c. 1570, as of course were so many of the old masters, but by 1594, Toledo's population had been decimated. Accordingly, the swordsmiths had decreased but in what numbers is unclear.
It does seem that movement of many of them to other Spanish centers was likely, and with Sebastian Hernandez, the compelling (but unproven) suggestion that the crowned '3' he used may have been the letter 'Z' (presumably Zaragoza, one of the other centers). In any case, according to Fernando's notes (which I consider most reliable), Sebastian had passed in 1584.
This date is significant because of the numbers of blades attributed to him well through the 17th century and positively illustrating the spurious use of his name by German makers long after he was gone .
Accordingly, the German makers applied known Spanish punzones and other marks incongruently with his name. These same 'mismatched' conditions occur on numbers of other blades known to be German as is well known.
Turning to Pedro Hernandez, though not listed in Palomares and el Canto, he is in other sources as of Toledo 1610-30. What is most significant with Pedro is that he (or someone using his name) used a punzon of a crucifix, and that (or variations) was also used by several other known German makers. This suggests either he was indeed in Solingen working, or other German makers were using his name, just as with Sebastian's.
The Renaissance had placed Italy at the fore in many aspects in addition as mentioned besides arms, and it would seem that in early 17th century, these influences would have been well in place. If Pedro was in fact in Germany, and using his already influential name, Hernandez, perhaps a pretentious attitude might have compelled the use of PIETRO in the inscription on this blade. The very attractive hilt here, as I mentioned, does seem to carry a certain Italian gestalt, particularly the pommel and asymmetrical 'attitude', and coupled with the name, Italianized, would have been a remarkably stylish choice for a gentleman of the period.
This emphasis on style would be heightened with the quality by the 'espadero del rey' on the blade, along with the significant 'half moon' which apparently was in itself well associated with that honorific.
It is important to note here that the Duchy of Milan was a Spanish province until the 18th century. With the decline of Toledo, not only the loss of its masters, but the dramatically increased use of famed Spanish names and well known marks and punzones became keenly established not only in Germany but Italy and other centers as described in the early to mid 17thc.
These circumstances provide many scenarios which may explain the inscription on this fine rapier.However only close hands on examination and comparison of its physical characteristics to other examples with known provenance or propensity of form to other identified examples will tell us more on its probable identity.
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