This type of piton carrier was very handy back when a climbers rack of protection consisted of a selection of heavy and oddly shaped pitons. It was designed to be hung around the climbers neck from a sling attached to the two eyelets on the spine. I have found several old photos where the climber wears bins of this type on a longer sling across the chest and tucked under one arm.
This carrier is painted and shows very little wear. The sticker on the spine reads “made in western Germany”. Stéphane Pennequin informs me that it was designed by H. Strathmann in 1961, and predates the heart shaped version in our archives.