Worked great on a silver bit that had been left tarnished for years and years. It was nearly black with tarnish. Had the tarnish off in about five minutes. I followed up with silver polish to add more shine.
I would talk to somebody who deals in antique bits and spurs Rob. I think sometimes they like them left untouched. I've also been told that regular toothpaste and toothbrush will clean up silver.