03-12-2013, 06:27 PM
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Hiya, its a Liverpool Driving Bit though I didn't think they came in 'jointed'.
Just used on the ring it is a mild bit, and if you thread the reins through any of the slots it gets harsher the lower down you go.
Value, not sure, I have a pony size one if I sold it second hand I would expect to get about £15 for it.