This is an unusual design for a hand can opener. It is a Edlund Junior Number 5. It was produced by the Edlund Company from Burlington Vermont. The last patent date on it is from 1929. Apparently, you are to place it on the edge of the can, strike it with your hand to start the blade, then use the handle to spin the can and open it as you would with a newer style opener.
Overall condition is very good. The red paint looks great. It seems solid and looks like it should work, but we haven't tried it. We've left it "as is" in case you like the patina as much as we do.
Unusual piece to collect or even use in your kitchen.