This vintage jointed snaffle bit is made of nickel or a nickel alloy.
It has round loose rings. Both canons of the mouthpiece are faintly stamped "Nickoline", I have found a reference to Nickeline bits in Hasluck's 1904 book "Harness Making" so this is likely to be an early 20th Century bit
Some of the seams are slightly open, making this bit suitable for display, not use - please look at the images.
