Talk:Smithing/@comment-122.108.90.149-20150612075221/@comment-26382706-20150612112216

"Extensive trial data has generally indicated that factors such as player level, sword leader, and leader level have little to no effect on the result. The primary factor appears to be the recipe chosen for Smithing."

So, it's a no. I don't think the token affects it too. Tokens only help to finish smithing your swords faster.