This is a ticket punch / nippers as used by conductors & inspectors on the railways or the buses. The cutt that it makes is a triangle or V (see picture). Apologies for any reflections in the photos.
Railway / bus ticket: Dundee & Arbroath Joint Line: Exch for Alexander bus 1947
BRITISH RAILWAY BUS ROAD & RAIL PRICE LIST + TIMETABLE to BLUEBELL RAILWAY 1964
Wooden Railway Bulgy The Railway Bus From Thomas The Tank Engine 
Collection of Railroad Railway Bus USA Annual Report Book x7
May 1881 Murrays ABC Glasgow Caledonian Railway Bus Timetable Scotland
Original Metro Day Rover Roveround From Just A Pound Railway Bus Poster 1970's
