One never knows what one will find hanging on a pasture fence.
We've been here five years next month, and I've been near this part of the fence many times. There's a small gate to the field just 10' or so to the right of where this was hanging. Right nearby is an old rick made of pallets for holding hay I think. I put a couple of juniper saplings I cut down next to the fence there yesterday and glanced over and said "something don't look right there"
I'm guessing someone used it to cut some baler string or such and just hung it there for whatever reason. Scales have disappeared off the handle.
No rust to speak of, as it's stainless with aluminum (?) frame, still opened OK. It's now got some Kroil on it and sitting for a day or so. I'll sharpen it up some and then stick it on the pants I wear around for doing yardwork. I misplaced the El Cheapo, $5 buy a ticket at the NRA banquet gun raffle and get a pocketknife just a couple of weeks ago. I'll take a free replacement, and if I end up hanging it on a fence, no love lost, eh?