This coin/pin caught my eye since I used to work in a sawmill and used a cant hook daily. Blows me away thinking how hard the man who made this probably worked compared to the automated processes we use today. The timber had to be massive back in 1858.
The pin seems too damaged to still use. There's definitely damage to this thing. Not sure if it was worn while working but would definitely not be surprised. To me the engraving adds value but I can understand as a coin collector both sides of it.