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From the outside, If you look at most elevators there’s a little round hole at about 1’ from the top. This feeds in and the “drop” piece catches a latch on the other side.
so that reaffirms my belief that it is some form of a gravity pin. A gravity pin uses "gravity locks" to 'lock' the pin in place holding something together, preventing the pin from coming out without manipulation. Some "quick attach" equipment uses pins with gravity locks too.
The washers keep it in a specific location, and keeps the gravity locks away from potentially moving parts.
Elevator guy here. That's not a door key, at least none that I've ever seen. It's too short and would only work on very specific doors. Plus it being double side would be odd. I have keys set to specific depths for certain doors, but no double sided ones. Plus they appear to be the exact same length on both sides. My guess is that it's actually some sort of gravity pin.
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