Interpretation of the numbers: 1/16th of an inch = 0.0625"; 1/32nd of an inch = 0.03125", and 1/64th of an inch = 0.015625" This suggests that the micrometer measures in thousandths of an inch, and that these tell the user what to look for if the size, or the tolerance, is in the usual inverse powers of two (fractional) inches: 1/2, 1/4, 1/8, 1/16, 1/32, 1/64, or (rarely) 1/128. From the shape, I'd guess that it was used to check size of something round, and that the typical tolerances were from 1/16th to as little as 1/64th of an inch. Someone making parts on a lathe, especially a wood lathe, could use this very easily. Most metal-cutting lathes have tighter tolerances built right in.