There is no difference in pitch accent between and , so it purely depends on which word is more familiar to laypeople. Neither is particularly common in daily life, but IMO is a little bit more familiar because there is a word , which is used outside gaming or history contexts. "Iron sword" is usually referred to simply as . It's just a hunch but I think more than half of Japanese non-gamers think of first when they hear with absolutely no context.
(By the way, on-on compounds do have pitch accents; see this answer for example.)