The Krag Tool is similar, but, has a shorter 'punch pin' and lacks the small screwdriver at the hinge rivet.

The Krag version is far less common (than the 1903 tool) and will sell for $35 to $100. It is sometimes called "1894 tool" and sometimes "1897 tool".

IMHO - The 'punch-pin' is kind of silly. It was used mainly to remove barrel-band springs from the gun stock and the 'hinge-pin' from the  Butt-Trap. Two things that seem undesireable to have soldiers performing.

These tools are illustrated in some of the period U.S. ORDNANCE MANUALS.