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Originally Posted by Evil Roy Slade
Seems to me it was occasionally referred to as "true-silver" in LOTR. And I am revealing to much geekiness here, but in Sindarin it means "grey-glitter."
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According to Wikipedia:
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In the first 1937 edition [of the Hobbit], the mail shirt given to Bilbo was described as being made of "silvered steel".
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However, the term 'mithril' was apparently never officially trademarked, and copyrights don't apply to individual terms.
I'm partial, personally, to somewhat odd magic armors. My settings have things like silver-thread (basically, Elven kevlar). My dwarves, though, tend to favor craftsmanship (er... craftdwarfship). They are more likely to use a ritual intended to give the smith endurance and wisdom than to directly affect the materials.