Blade Composition

The tip or blade of any muscle-powered melee or thrown weapon that inflicts cutting or impaling damage (excluding wooden stakes, and powered weapons such as chainsaws) is assumed to be stone at TL0, bronze at TL1, iron at TL2, and steel at TL3+. For instance, a knife would be stone at
TL0 but steel at TL3, while a greatsword would always be steel, as greatswords don’t exist before TL3. Blade composition modifies effective quality when parrying a very heavy weapon.

Weapons made from outdated materials are usually available at cheap-quality prices.

Silver Weapons (TL1)

Silver Weapons (TL1): Those who must combat demons, werewolves, etc. may desire silver weapons. Silver weapons typically require a special order from an artisan. Solid silver melee weapons or arrowheads cost 20 times list price, and break as if of cheap quality. Silver-coated and -edged weapons cost only three times list price, and use the breakage properties of the underlying material. Silver bullets (TL4+) must be solid, and cost 50 times list price!
Silver weapons only inflict extra damage on creatures with Vulnerability (p. 161) to silver. For a silver-coated or -edged weapon, reduce the wounding multiplier: ×2 becomes ×1.5, ×3 becomes ×2, and ×4 becomes ×3.

Source: GURPS 4th - Basic Set - Combined, page 275 (PDF page 277)