While I claim no special knowledge on small swords, I have been familiar with Aylward and notes on these passim, and whenever I see 'cut steel' I think of Matthew Boulton.
I found the photo of this silver hilt small sword by William Kinman (hallmark 1774-75) which is based on a cut steel pattern of Boulton's , in fact it is termed 'Boulton pattern'.
Boulton of Soho had huge production factory for many items , buttons, buckles and metalwork items.
In the article I found the photo in, "Matthew Boulton's Small Sword Hilt Designs, His Links with the London sword Trade and New Light on Cut Steel Swords", Leslie Southwick, JAAS, Vol.XIX, #6, Sept. 2009.
I had hoped to find more on the metals used, but the focus was on designs, however this 'pattern' is distinctly Boulton's. While there seems to be a hestitation to associate cut steel designs with precious metal work, it is noted that James Morisset(1738-1815) of London was sometimes employed and consulted with Boulton's 'particular work', whatever that was.
It is also noted that many of these cut steel swords were made at Boulton's Soho works for retailers, who would then place their own names on them.
I am unsure of why this sword would not be magnetic if indeed cut steel.
I wonder if a percentage of non ferrous alloy present in the metal being worked would render the item non magnetic?
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