Hello, I have a similar tool here, same style punches & dies. Mine came from an upholstery shop, for buttons that you would see on the backs or seats of sofas & chairs. You would punch the matching fabric, press that on the button, which would have a wire ring on the back. The button is fastened with twine through the seat/back and pulled tight against the fabric/foam of the chair/sofa. Sometimes referred to as Button Machines, still made & sold by C S Osborne. Regards, Lou