Loving the Unloved: Large Cent Pattern or Stitch Marker

Pattern or stitch marker with serrated wheel, circa 19th Century

And now for something totally different.
   I came across this tool a few months back. It is well made and still works. Or, at least I think it still works. I have not used it, so I am guessing. But then again, I am not handy with a needle and thread -- and I do not own a thimble.
   At first glance, I thought is was a crimper or pie cutter -- it is definitely not either. Too bad, I am quite adept at cutting pie, especially peach pie.
   In any case, the handle is well made, strong, and of fine oak. A big, meaty nail holds the cent in place. There is very little wobble.
   This is American ingenuity at its best. Large cents make for good sewing and baking tools if you have the vision.

   If this cent was just a serrated and holed cent, minus the rest, it would just be another odd bit that most folks would pass by. Unloved.
   But when we see it here, we can appreciate that it is special. This tool was well cared for too. It has a patina of wear to show that it had a busy life. I wonder how many trousers, shirts, or dresses were marked out by the sharp points?

Now, for those of you EACers who just have to know: I believe this is a (1)8(2)6 N3 with 6th star at coronet tip, B above I. It took some time to differentiate this one from N9. Other opinions?