This tool reminds me of the kitchen gadget that measures spaghetti portions. This is a round drawplate that allows you to make your round wire smaller by drawing it through a smaller hole. You can also get draw plates that will draw round wire into square, half-round, oval and triangle shaped wire.

Unless you are really into getting some exercise, it is a lot easier to purchase wire the size and shape you want it in the first place. And, the drawplate can be a handy tool when you run out of that half-round wire you need to complete a project. I use the drawplate occasionally when I need an irregular size of round wire to fit inside a tube rivet. Now unless you just go made for rivets like I have, you probably will do just fine without having a drawplate in your arsenal of tools.

If you decide to purchase a drawplate, please realize that you will most likely need to anneal the wire as it gets harder each time you draw it through a hole.