Silver Pickaxe

Silver is the point where pickaxe power starts gating progress instead of just slowing it. It handles everything in the early caves fine, then stops dead at meteorite, which is the one ore you actually want in that window. If a meteor has landed and this is what you are holding, you need the gold or platinum tier before you can touch it.

Against the tungsten equivalent the trade is speed for power. Silver swings noticeably faster, so it is the better tool for carving through dirt and stone in bulk, while tungsten takes fewer hits per block and can handle meteorite. The difference stops mattering quickly, since both are a step toward whatever you make out of your first hellstone.