the working end seems a little short for a pin punch,
on the other hand, the decapper (boxer type) for a shotshell loading kit is normally in the wooden tool used to seat the wads, covered by the palm piece.
The old Winchester rifle loading tools did have a decapper a bit like these, but I doubt that is the use since these are cased with shotgun tools
but, looking at the photo closer, is the tool under the trigger guard the wad rammer? it looks to have a decapper with a collar, does that match the tool in question?
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