WTF, IS IT????

My Father was a tool and die maker and an avid shooter, BE to be exact but he had quite a few rifles too, I found the in the gun side of his collections,  Engraved on this  is                                                                                        
  9/32 X 3/8 X 21/2 
             WB                                                             
       ORD 1200                                                                    Some kind of chamber tool?

Its a punch, like for a die to make holes in sheet metal. The groove in the shank is to retain it, although its a different style than I've seen.

What it would be used for gun-wise, other than a punch for driving pins out ... no idea. Not a good idea anyway, harder 'n woodpecker lips and likely to chip. And since it's hard and strong, the piece that comes off will be sharp and moving fast. Had a fragment like that in my finger for years.

I believe your correct, when I look at the small end it is very square and almost sharp, My father worked in the printing field, so maybe a hole punch.