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These are jeweler's ring vises. I've had one, bought new for the purpose, for 50 years or more.
Try - http://55tools.blogspot.com/He puts up what's-its all the time and gets answers usually.
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Can you post a pic of yours...beside a tape measure?
It isn't a fid, the end isn't sharp enough and fids don't need to be hammered with such force that necessitates a metal wedge. It's also not for expanding metal pipe as the wood shows no damage. If it was hammered into pipe then the wood would show damage rings.It is definitely for woodworking. If not for timber framing then maybe shipbuilding. The metal wedge is there because it needs to be hammered with a fair amount of force, and the iron ring serves as a stop as well as retaining the whole thing together. Here is a link to a shop that turns pegs used for timber framing. You can see in the picture that the pegs look like the one you have, but the ring stop toward the end is turned on the lathe in these. I would bet that in the old days with the old original hand carved pegs, you may have to have one of these split style pegs with the metal wedge to expand the drilled hole in some cases. It would then make the insertion of the construction peg easier. Here is a link to the page with the photo. http://www.pegs.us/products.htm