It cuts a triangular piece out of the ticket (see picture). Apologies for any reflections in the photos.
Vintage Ticket Punch COLO-G&F Square Shape Train Conductor Railroad Tool Rare
ANTIQUE TRAIN BUS TICKET PUNCH CLIPPER BARRIER TICKET PUNCH VINTAGE OLD TOOLS
Vintage Railroad Train Conductor Bus Ticket Punch - Schul-Sons (rectangle punch)
Vintage Railroad Ticket Punch Has “H&H” Grinded Into The Punch Late 19th C
Vintage Punch Rite Ticket Punch Round Hole P.J. Mieth MFG Co. Kenilworth, N.J
