440A: 0.65/0.75% carbon, 16/18% chromium, 0.75% molybdenum, 1% manganese, 1% silicon
12C27: 0.60% carbon, 13.5% chromium, 0.40% manganese
420HC: 0.46% carbon, 13% chromium, 0.30% vanadium, 0.40% manganese, 0.40% silicon
Carbon: Makes a steel harder.
Chromium: Makes a steel stainless over 13%. Binds with carbon to create carbides, which increase hardness and wear resistance.
Molybdenum: Also forms carbides, which increase wear resistance.
Manganese: Keeps the steel fine-grained, and helps with hardenability.
Silicon: Contributes to strength.
From this you see that 420HC has less carbon than the other two, but both 12C27 and 440A has more chromium.
The increase in chromium means that there is less carbon in the steel, to make it hard, since carbon binds with chromium. Hardness ofcourse, is what keeps an edge sharp.
In short, even if 420HC has less carbon, it can get as hard, if not harder than 440A, and is also able to keep a sharp edge for longer. 12C27 has more carbon, but not as much chromium as 440A, and as such can get even harder. (And keep a sharp edge for longer.)
So, my rating of the three steels:
First place: 12C27,
Second: 420HC,
Third: 440A.
Lastly, i am NOT a metallurgist, nor am i really knowledgeable about steel. This is info i've found online, and compiled. It may not be correct, and you may find that in your view, 440A is better than both 420HC or 12C27. If someone more knowledgeable want to correct me, feel free. :thumbup: