Nope. It is a cutter, but a crude type. Used for cutting a wad from a piece of felt or similar material to place over a charge of black powder in a straight wall cartridge, like a 45/70.
After priming the shell and dropping charge you would tamp down a felt wad over charge to keep powder properly oriented at the rear of the shell..
Useful when using light target loads and your only using a small charge.. Mostly found in the 45 and 50 cal shells, but I'v used them in black powder 32.20 all the way up to 50/140 cartridges.
It's made from mild steel as opposed to quality punches, so one can take a metal file to the edge and sharpen it up.