What was it used for?

[Al 1]

I picked these two items at a flee market. The fellow said they were together. Does anyone have any idea?
The steped spindle is a cam set up. The disc holes are tapered larger to outside top and bottom.
Thank you, Al

The

 

[T Bredehoft]

What happens when you rotate the handle? Does the stepped end advance? Do the holes correspond to the diameters of the "plunger"?
If so I'd guess it's some sort of hole punch for light metal, or something.

 

[Al 1]

I found out that it is a ring shank bender tool for making rings (jewelry). The round disc does not belong with it but is used in a ring sizing tool. Al.

 

[Silverbullet]

That's my thoughts too. Ring bender of some sort for chains or another application for rings.