Good job indeed Chris, but it's not finished yet!
The advantage of Silver-steel is that it can be cut to shape in the soft condition and then hardened by heat and quenching. As it is your punch is the right shape and finish (well done!), but if it's put to work the point will soon blunt and perhaps bend.
With a blow-lamp in dull daylight (so you can see the colour properly), heat the silver steel tip to 'cherry red'. This is the approximate colour of a glace cherry. The length of time the silver steel is held to temperature is proportional to the weight of the object being treated. Experts may disagree, I suggest about 15 seconds for your tip. Then, without dithering, plunge the tip as quickly as possible into a bowl of cold water and swirl. Use plenty of water to absorb heat quickly, and stir vigorously to prevent steam forming an insulating layer and delaying the quench.
Rapid cooling freezes silver-steel's internal structure in very hard form. This can be tested by running a file over the metal; the file should skate rather than cut. If the file cuts, repeat heating and quenching. This can't be repeated indefinitely, maybe 3 strikes and you're out. Advanced workers can adjust hardness by warming the water (softer), or by quenching in oil, or increase hardness by adding table salt to the water.
Unfortunately hardening makes silver-steel brittle, which isn't good in a punch. The cure is to relax the hardness slightly by tempering, that is holding the metal at medium heat, say 200°C, for a relatively long time. (Depends on the weight of metal being treated, I suggest 30 minutes in a domestic oven would be enough for your punch.) Tempering reduces brittleness and makes the steel tougher.
In a clock, a pivot made of silver-steel might not be tempered. There's advantage in leaving a bearing not whacked with a hammer glass-hard because it will take many years to wear out. (In practice Blue Pivot Steel seems to be preferred by clockmakers – it's sold pre-hardened but not so hard it can't be cut in a lathe.)
Whether a steel will harden or not depends mainly on how much Carbon is in the alloy. Mild-steel is low Carbon and isn't effected by heat-treatment. Silver-steel is a high-carbon steel and it's hardening properties are improved by adding a dash of Chromium and Manganese, perhaps also Vanadium.
HSS is also a high-carbon steel, but this family of alloys contain Tungsten, Molybdenum and Cobalt. These have the effect of lifting the temperature needed to alter the internal structure of the steel, and it remains hard at low-red heat. Hardening and tempering of HSS is best left to the professionals. The higher temperatures, longer soak times, and accurate temperature control needed can't be managed with a manually operated blow-lamp. In the workshop, HSS is bought hard and usually ground to shape, though it can be cut with Carbide if need be.
Dave
Edited By SillyOldDuffer on 26/08/2019 09:16:40