First post here and looking forward to forum.
This thing has been around my step mom's place for as long as I can remember. My guess is that it has something to do with logging, mill, sawing, etc. There are some measuring or setting marks on the round 'face' and 'Seattle WA' is stamped on it as well.
Sure would like to know what this is!

Isn't that another banding tool ?

I'm pretty sure this is a saw swage.  I'm not sure whether for cross-cuts saws or band saws.  I have one by J. Hanchett that is used for swaging the teeth on a band saw.  Below is a link to the Hanchett web site,  they are still in business.

http://www.hanchett.com/

The following link is to the datamp website which shows a patent drawing of one that looks similar to yours.  Where it says 'patent pictures' click on '2'.

http://www.datamp.org/patents/search/advance.php?pn=834009&id=29857&set=2

Mike

There was a company in Seattle that made saw tools called Morin. A crosscut saw gage made by them turned up the museum where I work last summer.

I think a lot of the ones that look like that were used on the large sawmill circular saw blades.