Reminds me of one my father had, he used to work in the steel industry making crucible steel during the second world war, and special steels for the cutlery / munitions industry.
He used to have a miniature folding penknife with nacre (mother of pearl) side plates.
When it was open, it would fit on a farthing (1/4 of one old english penny,which was approximately 1/2" diameter) inside the perimeter. It had a small steel loop on it and he used to keep it inside a wallet on a ladies hairgrip (bobby pin ?) through the loop so it wouldn't get lost, he also had a miniature pair of scissors about the same size.
Despite extensive searches after he died, unfortunately it/they were never found, still, great memories.
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