I am impressed by your translating skills, Wayne
.
Indeed this is a very Spanish (Castillian) refrain, surely older than your wotsit
.
It is invoked twice by Sancho in Cervantes great work Dom Quixote de la Mancha. From then on, a lot of interpretations has been given to this phrase (some anecdotal) but all within similar connotation. From the Sufi parable "Trust in Allah but tether your camel first" to the period of Pizarro in Cuzco where his men had the smiths engraving in their swords the phrase 'corrupted', swapping the mallet for espada (sword).
The picture you post is rather fuzzy, crest pommel and all. Wait till you get the thing in hands and check whether (hopefully) it is not a decoration item ... which i am afraid it certainly is
.