what is this?

[bloovey]

I found this with my metal detector. It say ML 54. What could this be?

 

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[Tedyoh]

Could be a tool tag...miner's tag....livestock tag....

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[Loco-Digger]

key tag, tool tag, it could have been many kinds of tags.

 

[CRUSADER]

Tool tag, but anyones guess.