Excalibur

Excalibur is a sword introduced in the 1.1 update. Its base stats (with no prefix and no armour or accesory bonuses) are 50 melee damage, 4% critical strike chance, fast speed, and average knockback. Like the Muramasa and Cobalt Swordand phasesaber, you can hold down the left mouse button to continuously swing this sword. Like all of the Hallowed weapons, Excalibur glows when used. This blade is the final sword of Terraria in 1.1 and is the most powerful unique sword in the whole game.

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Trivia
Excalibur is said to be the holy sword of the gods
 * The sword's name comes from Arthurian legend, in which Excalibur is King Arthur's sword with supposed magical properties, which he was given by the Lady in the Lake.