I have been a farmer since I was born. I am not sure but this looks a lot like an OLD bag cinch.
A long time ago before my time they use to sell stuff especially fertilizer in burlap bags and before
the invention of the hand held bag sewing machine where they used heavy cord to sew up a bag,
they had a period of time that they used a large needle to run around the top of the burlap, run it
through a cinch, tie the cord together and use the cinch to close it. Problem with this scenario is
that when they cinched it, they bent it to hold it in place to keep the bag tightly closed so the contents
would not spill out. In that day, copper was the choice of metals due to it being easy to bend. Thing
about it here is this, "while having the holes cut at an angle as they were in the day", this just looks
to me to be too thick for using in that purpose. But man it looks like one.