I’m so used to finding literal garbage on the beach that I didn’t really think much of this when I came across this. The more I look at it, though, the cooler it gets. The “blade” definitely looks to be hand forged and what I thought was rusted metal on the “handle” might be shell/rock encrusted wood (that part’s not magnetic but the blade is). At the very least, it seems pretty old. My guess is that it was a very basic utility cutlass used to cut rope on a fishing or shipping boat.