It doesn't look that way to me; there's no jaggedness. There'es a layered look, where it looks like perhaps it's the end of a folded billet, but it's nicely rounded, not jagged, as we might expect from a torn end, nor heavily pitted, as we'd see if it'd rusted through. It is possible, of course, that it's broken off short; it just doesn't look that way to me. The tang on Arab jambiyas I've seen is much like this....
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