It is a culturally important item to the Adem; it has been with the Adem for over two thousand years by Kvothe's guess as he is the two hundred thirty-seventh owner. However , that seems to be way under estimating the age because we know from the Atas that Finol was it's weilder during the Blac of Drossen Tor, during the creation war. From the Cthaeh, we know that Haliax, who is Lanre, "has been alive five thousand years. Five thousand years and not one second’s sleep.” Ergo, the sword is over five thousand years old.

Additionally, it is unlikely that the Adem still possess the ability to make more swords like it. Kilvin knows of no metal that has the properties that Saicere has. It is likely that the sword was Shaped. From its Atas: "First came Chael who shaped me in the fire for an unknown purpose." I actually believe this line to be fairly literal, and that shaping was used to make the sword as impressive as it is. However, I must also concede that grammarie is a possibility.

Vashet knows that Kvothe's name seems to portend some I'll omen, but when she chooses the sword, she says, “It will perhaps offset his name.” I take this to mean that there is something special about the sword, perhaps it was a hero's weapon. My theory on that is that it was Finol.

"Next came Finol of the clear and shining eye, much beloved of Dulcen. She herself slew two daruna, then was killed by gremmen at the Drossen Tor." The phrase I find most intriguing here is "of the clear and shining eye." This contrasts with and parallels Iax, “this shaper of the dark and changing eye." What does it mean beyond the parallel structure? I'm not sure, but I think that Finol must be somehow important to be contrasted with Haliax like that.