hand forged horse tie-down

I love hand forged things, so, when I find an interesting hand forged item, I want to share it with my CW friends.
Posted is, (what I believe to be) an animal tie-down, most probably for a horse. The neat thing is that the reins really don't have to be tied to the contraption. All you have to do is to put the reins through the iron ring and then twist it around the spirals. The horse can't undo the spiral wound reins.
You often see, in western movies, how they just through the reins over the hitching stand and the horse will not move.....BULL CRAP.... If the reins are not tied, the horse, most likely will be somewhere other than where you left him.
the tapered pin is most likely to hammer into a hitching post or a fence post.
If anybody has any information as to another use for this tool, kindly reply, but I think I'm right on this one.