Thanks both. The inside of the belt loop is covered in some sort of white paste. I can scrape it off with my fingernail, so I think that paste would be gone if anybody had ever ran a belt through it. Maybe it was a later addition as suggested.
I also noticed the very tip of the blade is all chewed up, similar to what happens when you try to use the tip of your pocketknife as a makeshift screwdriver. Maybe it served as a utility knife.
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