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You have done it now. You have asked the purpose of the nib- the start of many a fight on hand tool forums. Some will tell you it is like a gun site, others will claim it is used to notch the start of the cut. Those people are totally wrong. It is simply a vestigial remnant of a decorative element used on saws from antiquity.
As for the saw I can't tell if the handle is large enough for an adult. It looks too small and crudely made. So possibly a child's saw. If meant for an adult, it looks like a table saw. The narrow width allows a person to saw out round table tops.
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Everyone knows the nib is for scratching your back without the fear of drawing blood with sharp teet.
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Actually, we like the nib question - the arguing is rarely bloody.
Just don't go to power tools and ask "what is the best tablesaw"?
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I think you have a very old panel saw that's been sharpened many times. I also think the handle has been replaced. Disston added the nib (spike as you refer to it), and nobody really knows the purpose. Perhaps just decorative. Is there a medallion on the other side of the handle where the screws are? If so, take a pic of that and post it. That would help in ID. Otherwise, I think you have a generic hardware store saw. Disston's handles on their panel saws were attached with more screws than just the two on your saw.
Still Learning,
Allan Hill