I guess there was another part that went with it. Might look around some more.
Looks like it cams around a pivot pin to maybe pull, or bend something.
Sort of like an old load binder.
Neat piece.

Yes, I meant value. Auto fill got me again. I am going to get some rust off it. Maybe I'll find some identification marked on it.

Patina.....not rust!!!!!

rail road spike puller maybe??

Caveman's golf club, maybe?.
I think the picture has it's actual use.

Not a railroad tool.
At least not one I have ever seen or used on the Railroad.
Not a claw bar for pulling spikes and not a lining bar.

I'm thinking of something using the cam and lever for high power.
Sort of like a BIG one of these punch presses.

Maybe to punch the bolt holes in the rails for the couplers ? (pre-45-70)

Anyone can see it’s a Pig Castrater

I have know idea of what it is but I am overwhelmed that thing thing has stumped everyone here. That is a very rare event.

I keep getting this funny feeling I've seen that shape somewhere but can't put my finger on it.

Like maybe on the side of a wall or a bridge or some other structure.

OP , what kind of infrastructure do have in your area ? Especially abandoned places like factories , mining , industrial etc ?

In one of the towns nearby here there is a lot of old grinding stones from a mill that burned down 125 years ago. People have them in their yards as decorations.

It looks somewhat similar to a Hanging Balance Beam Scale that was used to weigh tobacco, cotton, hay or grain but it is missing some hardware if that is what it is. The shape on the hook end varies quite a bit but I have not found any with that particular profile. Not at all sure but that is my best guess.

At least you found it with your metal detector and not with a lawnmower.

I'm in farm country. No industrial nearby.

I did find a similar shaped railroad tool, but not near as heavy as your 60 lb. er'.
This is advertised as a straightener for rail car steps. Hooked onto the round bars and the cam pried against the corner of the rail car.
I could see yours hooked onto the flange of a section of bent rail to twist, or straighten out a twisted rail.
It would likely provide ample torque to do that maybe.

I was thing it was used as a wedge/prybar also. If you put the hook on a pivot point and pulled the handle around it would push an adjacent object away. Opening a gap of 6". I did weight it, 40#. My guess earlier was high. The handle end was sheared off when the steel was hot from the way it looks. You can see where the metal is burred over in the base of the pivot cup (both sides). Definitely a stress point.

It almost looks like it was used independently by hand, with no mounting holes. What was the chain of custody of your property? You mentioned farmland… any signs of a dragline used for dredging or ditching- the pawl end had to engage with a cog or similar mechanism to prevent movement. Kinda like a boat trailer winch to hold and release pressure. Just spitballing now?

Might make a good trap stake puller.

Here is a couple other examples of the similar tool I posted earlier.
Called a "Handhold straightener".