Though I don't have a photo, I saw the same type and size tool in an 1800's blacksmith tool kit. It was a multi use tool for snipping, holding and bending smaller iron products. There was another one in the kit, but a larger size. And on another occation I watched a horse shoer using the same tool to snip off the ends of the shoeing nails petruding from the top of the horse's hoof. Most likely the same tool, seeings how back then horse shoeing and blacksmithing were usually done by the same person. So I think you may have been right on your first guess.