This handy tool, number M170, was introduced around 1977 and enabled the easy insertion of panel pins into hardboard or plywood. The first variety had a black handle with a yellow top and shows that there were 2 different sizes:
The 1978/9 catalogue shows this:
Here are excerpts from the May 1988 Catalogue which shows only M170 as being available..
Around 1990 the polypropylene handle was changed to all Blue and this style continued through Jan 2006 when Irwin Marples had it numbered as TM170. I am unsure as to whether this product was continued when Irwin moved all production to China.