Honestly, the hardest part of getting into vintage jewelry is that moment when you are holding a sparkly, grey piece under a lamp and you just can’t tell what it is. Is it Georgian Cut Steel? Or is it Victorian Marcasite?
To most people, they look exactly the same. They were both made to look like diamonds in candlelight, so they both have that dark, metallic glitter. But for a collector, knowing the difference changes everything regarding the history and the price tag.
I remember buying a shoe buckle at a sale in Brighton years ago. The seller had it labeled as "marcasite" and priced it really low because they thought it was just cheap costume jewelry from the 1920s. But when I flipped it over, I noticed these tiny rivets on the back plate—no glue, just rivets. I knew right away I was holding an 18th-century piece of Cut Steel that was worth about twenty times what they were asking. That is the best feeling in the world.
In this guide, I want to skip the complicated textbook stuff and keep it practical. We are just going to focus on the "Rivet vs. Glue" check. It is a simple visual trick that will help you identify these pieces confidently, whether you are at a fancy auction or just digging through a box at a flea market.
CUT STEEL VS. MARCASITE: UNDERSTANDING THE MATERIAL DIFFERENCES
Before we pull out the loupes, we need to understand exactly what we are looking at. While they serve the same aesthetic purpose—adding a metallic, diamond-like glitter to jewelry—their chemical compositions are worlds apart.
What is Cut Steel?
Cut Steel is exactly what it sounds like: studs of steel that have been faceted and polished to a high shine. Originating in England (mostly Woodstock and Birmingham), this wasn't just "fake jewelry." It was a feat of engineering. Each individual stud was hand-faceted with up to 15 facets and then riveted onto a base plate. It is magnetic, it is heavy, and because it is steel, it is prone to rust.
What is Marcasite?
Here is a little secret: Marcasite jewelry isn't actually made of the mineral marcasite. The mineral marcasite is unstable and crumbles into dust. The "marcasite" used in jewelry is actually Pyrite (Fool's Gold). These pyrite stones are cut, polished, and usually set into silver. Unlike cut steel, which is a metal stud, marcasite is a stone set into metal.
Elena's Pro-Tip:
"Think of Cut Steel as 'metal on metal' and Marcasite as 'stone in metal.' When you touch Cut Steel to your cheek, it warms up quickly because it's all metal. Marcasite (pyrite) feels colder, like a gemstone, and stays cold longer. It’s a subtle difference, but one I rely on constantly."
THE "RIVET VS. GLUE" TECHNIQUE: A STEP-BY-STEP VISUAL INSPECTION
This is the most critical skill you will learn today. When you are unsure about a piece, stop looking at the front. The sparkling front is designed to deceive you. The truth is always hidden on the back.
Step 1: Flip the Piece Over
Ignore the design for a moment. Turn the brooch, buckle, or earring over and look at the reverse side of the setting.
Step 2: Look for the Rivets (The Cut Steel Sign)
If the piece is authentic Cut Steel, you will see tiny pinpricks or studs on the back of the base plate. These are the ends of the rivets. The steel studs on the front were hammered through holes in the backplate to secure them. It looks industrial, almost like tiny nails. If the back is perfectly smooth or solid, it is likely not early Cut Steel.
Step 3: Look for the Settings (The Marcasite Sign)
Marcasite is never riveted. It is a stone. In older pieces, it was "bead set," meaning the jeweler raised tiny beads of the surrounding silver to hold the stone in place. In cheaper or newer pieces, it is simply glued in. If you look at the back of a marcasite piece, you will usually just see smooth silver (often marked '925' or 'Sterling') with no rivets poking through.
Comparison Matrix: Quick Visual ID
| Feature | Authentic Cut Steel | Antique Marcasite (Pyrite) |
| Material | Faceted Steel Studs | Pyrite Gemstones |
| Back Construction | Visible Rivets (Tiny dots/bumps) | Smooth Metal (Silver/Pot Metal) |
| Setting Style | Riveted through base plate | Bead set, Prong set, or Glued |
| Magnetism | Highly Magnetic | Non-Magnetic (unless setting is steel) |
| Luster | Grey, Gunmetal, "Dark Shine" | Brassier, Golden-Grey, Metallic |
| Rust Risk | High (Red/Brown oxidation) | None (Stones don't rust) |
ANALYZING CONSTRUCTION: STUDS, BASE PLATES, AND BEAD SETTINGS
To truly separate the high-value antiques from the retro reproductions, you have to look closely at how the piece was built. The construction quality is often the biggest giveaway of age.
The Anatomy of a Cut Steel Stud
Early Cut Steel (mid-1700s to early 1800s) is miraculous. The studs are microscopic, often having 12 to 15 facets on a head no bigger than a pin. These studs were densely packed on a base plate. Because they were riveted, there is no "space" between them; they sit shoulder-to-shoulder. Later Cut Steel (late Victorian) used larger studs with fewer facets (often just 5), and they were sometimes riveted to distinct "runners" or strips rather than a solid plate.
The Evolution of Marcasite Settings
Genuine Victorian and Art Deco marcasite pieces were works of art. The jewelers used a technique called "bead setting" or "grain setting." They would carve into the silver and push a tiny shaving of metal over the edge of the pyrite stone to hold it. This is labor-intensive.
The "Glue" Giveaway
If you look at a piece of marcasite jewelry under magnification and see a yellow or clear residue around the edges of the stones, you are looking at glue. Glue is a modern shortcut. While some mid-century costume jewelry used glue, it generally indicates a piece has less value than one that is properly bead-set.
NON-DESTRUCTIVE TESTING: USING MAGNETS AND LOUPES FOR AUTHENTICATION
You don't need a laboratory to authenticate these pieces. You just need two simple tools that can fit in your pocket: a rare-earth magnet and a 10x jeweler's loupe.
The Magnet Test
This is the fastest way to spot Cut Steel. Steel is an alloy of iron and carbon. It is magnetic.
Take your magnet and hover it over the face of the jewelry. If it is Cut Steel, it will jump to the magnet immediately.
Caution: Some marcasite is set in "pot metal" or lower-grade alloys that might have a slight magnetic pull, but the stones themselves are not magnetic. Conversely, marcasite set in Sterling Silver (which is non-magnetic) will have zero reaction. If the piece is heavy, grey, and sticks hard to a magnet, bet on Cut Steel.
The Loupe Inspection
Under 10x magnification, the surface tells a story.
Look at the facets of the "stones."
In Cut Steel, the facets are metal. They might show signs of microscopic pitting or corrosion (rust), but they won't chip or fracture like a stone.
In Marcasite, you are looking at a brittle mineral. Under a loupe, you might see conchoidal fractures, chips, or a surface structure that looks crystalline rather than metallic.
Elena's Pro-Tip:
"Use your loupe to hunt for 'The Black Spot.' On antique Cut Steel, if a stud has rusted away or fallen out, you will see a tiny, empty hole in the base plate. On Marcasite, if a stone is missing, you'll see a shallow depression, often with a dab of old, dried glue at the bottom. The empty hole is the hallmark of the rivet technique."
DATING YOUR JEWELRY: GEORGIAN CUT STEEL VS. VICTORIAN MARCASITE
Context is everything. Knowing when these materials were popular helps you validate what you are seeing. If someone tries to sell you an "Art Deco Cut Steel" ring, you should be suspicious, because Cut Steel had largely fallen out of fashion by the Art Deco period.
The Georgian Era (1714–1837): The Golden Age of Steel
This was the peak of Cut Steel. It was initially worn as a substitute for diamonds, but it became a status symbol in its own right—even Napoleon commissioned a parure of Cut Steel for his second wife.
Characteristics: Densely packed, tiny studs. Up to 15 facets per stud. Complex, multi-layered designs. High value.
The Victorian Era (1837–1901): The Rise of Marcasite
When Prince Albert died in 1861, Queen Victoria went into mourning. The entire court followed, and "mourning jewelry" became the standard. Marcasite, with its somber, dark grey glitter, was perfect for this. It surged in popularity during the late 19th century.
Characteristics: Set in silver. often featuring naturalistic motifs (flowers, leaves, insects).
The Art Deco Era (1920s–1930s): The Marcasite Revival
Marcasite had a massive second wind in the 1920s. The geometric shapes of Art Deco suited the metallic look of marcasite perfectly.
Characteristics: Geometric designs, often combined with onyx, carnelian, or chrysoprase. Almost exclusively set in silver.
ASSESSING VALUE: CONDITION, RUST, AND "MISSING STONE" PENALTIES
Finally, let's talk about money. You've identified the material, but is it worth buying? The value of both Cut Steel and Marcasite is heavily dependent on condition. Unlike gold, which can be melted down, the value here is in the craftsmanship.
The Rust Killer (Cut Steel)
Rust is the arch-enemy of Cut Steel. Because it is iron-based, humidity destroys it.
- Minor Rust: Can sometimes be cleaned with gentle friction (never water!).
- Active Red Rust: This is "cancer" for the piece. It eats the facets and ruins the shine. A rusty piece of Cut Steel is often considered "scrap" unless it is incredibly rare.
The Missing Stone Factor
- Cut Steel: Replacing a missing faceted steel stud is a nightmare. You have to find a "donor" piece from the same era with the exact same size stud and facet count. A piece with missing studs loses 50% or more of its value immediately.
- Marcasite: Much easier to repair. Loose marcasite stones (pyrite) are readily available and can be re-glued or re-set by a competent jeweler. A missing marcasite stone is a bargaining chip, not a deal-breaker.
Value Impact Matrix
| Condition Issue | Cut Steel Impact | Marcasite Impact |
| Missing Element | Severe: Very hard to source correct replacement studs. | Moderate: Easy to replace stones. |
| Cleaning Damage | Critical: Water creates permanent rust. | Moderate: Silver polish can ruin the patina, but is fixable. |
| Broken Mechanism | High: Soldering steel destroys the temper/finish. | Low: Silver findings are easily soldered/repaired. |
| Market Demand | High for 18th Century; Moderate for late Victorian. | Steady demand for Art Deco; High for Victorian. |
FINAL VERDICT: IS IT A CUT STEEL RARITY OR A MARCASITE CLASSIC?
The next time you are sifting through a jewelry box at an estate sale, don't let the sparkle distract you. Remember the "Rivet vs. Glue" rule.
If it feels heavy, sticks to a magnet, and has a backside that looks like a pincushion of tiny rivets, you have found Cut Steel—a survivor of the Georgian industrial age. If it is set in silver, feels cool to the touch, and features bead settings without rivets, you are holding Marcasite—the favorite of the Victorian mourners and the Art Deco flappers.
Both are beautiful, both are collectible, but only one requires the engineering precision of a bridge builder. Happy hunting.
Frequently Asked Questions About Antique Jewelry Identification
Can I clean Cut Steel jewelry with water or ultrasonic cleaners?
Absolutely not. Water is the enemy of Cut Steel. Even a small amount of moisture can cause flash rust that ruins the polished facets permanently. Clean it only with a soft, dry cloth or by gently rubbing it with a piece of suede.
Why does some Marcasite jewelry look like it has gold in it?
That is likely Pyrite's natural color showing through. Pyrite is known as "Fool's Gold" because it has a brassy-yellow hue. Over time, as the silver setting tarnishes or the stone gets dirty, that golden tint can become more apparent.
Is Cut Steel jewelry valuable?
Yes, particularly pieces from the Georgian era (18th century). Items with very fine, multi-faceted studs (10-15 facets) in good condition command high prices. Later pieces with larger, fewer-faceted studs are less valuable but still collectible.
How can I tell if my Marcasite is real silver?
Check the back of the piece or the clasp for hallmarks. "925," "Sterling," or a Lion Passant (for British silver) are common marks. However, many antique pieces were not marked, so a lack of a stamp doesn't guarantee it's base metal.
Can I repair a Cut Steel brooch with missing studs?
It is difficult. You cannot buy new "cut steel studs" today. You must find a damaged "donor" piece of the same age, harvest the studs, and carefully attach them. It is a restoration job for a specialist, not a DIY fix.
