I would say that it's a fantasy item.
Thank you Tobias, I was thinking the same, it's not even a fake as it's not even a match to anything I can think of, from the said era...
It's 6th Reich, and for letting air out of ballons. Popular on the Antarctic Front. Best Regards, Fred
That ring was so the knife could be spun around the index finger while giving the Nazi salute.
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