Can you Identify this Item

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This mystery item is probably for sealing lids on cans and used on family farms many years ago. However I’m not completely sure, so looking for some imput from my knowledgeable readers. Although it looks rusty it is actually painted red (original) and was made by the Victory Tool Co of Montreal. Any info would be appreciated, any suggestions on the value???Look forward to hearing from you.
God Bless and keep reading

About irishroverpei

Author of "Lily & Me", "The Royal Navy & Me" and Chapter XXl Armageddon. Writer, blogger and RN Submariner, antique automobile enthusiast.
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