Found this last year and always wondered what it might be. I think it kind of resembles a military medal of some sort but that may be a stretch. I think it's made out of brass.
Did they make them out of brass back in the day? It seems like that would be costly..but who knows..I know everything back in the day was built to last..nothing like the disposable world we live in now
I think they were galvanized metal and had round tray riveted horizontally on the spike, the tray held the bait and had a small hole in the center. The latter verison had the tray mounted vertically like the modern version. It mght be something else, it reminds me on an old ant trap.
I'm definitely not sure that it's brass -- I don't know how to tell the difference really. The ant trap idea is intriguing! The shape at least does seem to match up, although most seem to be made of plastic. Haven't seen one yet made out of metal like this. I found a patent for the ant trap bait stick -- it's for plastic, but you can see the shape at least: