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This is a 1950s to 1960s original IBM Card Gauge made of steel to check proper punch alignment. The gauge was used with the 5081 80 column card. Later versions of this gauge were made of aluminum. It was used the card reproducer, i.e. 514, to be certain machine was punching cards correctly. After several thousand cards had been punched, the operator would take a sample with this gauge to verify proper punching. Collectors of IBM memorabilia will know this is a classic and seldom found piece of computing history.
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