I found the following old posts in a dark corner of my computer. The first part is started out with a post from 'Codger,' and then Debbie Chase:
"Now that I have thoroughly confused you, and blown long time dearly held ideals of absolute truths, we will look at the steels themselves.
Quote (from Codger, I think):
“High Carbon Cutlery Steel”, at least in the case of Imperial Schrade Old Timers and Uncle Henry knives so blessed, refers to AISI 1095HC. It has a carbon content of between .95% and 1.05%, Magnesium 0.30-0.50%, Phosphorus (max.) 0.040%, sulphur (max.) 0.050% according to ladle samples. “Famous for both it’s edge hold ability and resharpening ease. One of the charactoristics of this steel is that it will darken or discolor with use, especially if used on meats or fruits. Care must be taken with a carbon steel knife to prevent rust. The blades should be kept dry and lightly oiled occasionally.”
Quote:
Originally Posted by Debbie Chase, Schrade CSR 12/06/04
The feeling by many knife users that the rust and discoloration of high carbon steel was an inconvenience was most definitely the reason for the introduction of stainless steel. While most avid users preferred the high carbon steel and honestly felt that the steel wasn’t a good steel until it was seasoned (darkened and discolored) properly, there was always quite a number of people writing in to complain that the steel must be a very poor steel, because they couldn’t slice their apples without it rusting....
“Schrade+” steel was actually a trademarked name used for at least two different stainless steel alloys. First was 440A. Then a change was made to 420HC. As of this time, there is conflicting information about when this change took place, but it seems to have been sometime after the 2000 production year. Stainless steel is just as it’s name implies... it “stains less”, but will still discolor or rust to some extent if not properly cared for. Both carbon and stainless blades were heat treated to 56-59 Rockwell.
Every knife enthusiast/user has their own opinion as to which blade steel is best, and which characteristics are most important to them. I’ll not delve into that can of worms here, but to say that my preference is carbon steel. Whatever your preferences, you should be able to find a carbon bladed Old Timer, or a stainless one, if that is what you like. It just takes some searching. Best clues for a carbon steel Old Timer is to try to get one new in an older package, pre 1997 or so. Or buy one with the beginnings of patina, easily removed if you like shiny blades.
A few later knives were made of exotic metals like true forged stainless (BTO1), ATS34 (Spitfire), CM154 (Original Loveless design), and if I remember correctly, the D’holders were of a custom steel/process (my [Tongueriver] insertion here: It was BG-42).
This is my best effort to flesh out the answer to the question of Schrade steels, borrowing liberally from forum resources. Build on this guys.
EDIT: Recently acquired evidence suggests that 420HC SS was introduced, at least partially, in 1998 when they began using fine blanking on the LB7 production. If it was like most other changes in production, it was not like turning off one faucet and turning on another, the change was most likely gradual, what is called a "running change". And of course there is almost always a lag between when production began and shipping began. -Michael Little
Schrade+ steel: First was 440A. Then, between 1998 and 2000 they gradually went to 420HC. –Codger."