a studded leather collar

The collar is made from a strip of thick leather, which is a little more than two inches wide. Though still extremely supple, the leather is blackened with age, making a stark contrast to the highly polished heavy metal studs which are set into the collar at one inch intervals. The studs themselves appear to be made from iron, judging by the weight of the collar, and are shaped such that they present a sharply pointed outer edge.

It is a studded leather collar (satisfactory, aged).
It can absorb a very small amount of damage and provides awful protection.
It is made of metal.
It is starting to look difficult to mend.
It is too small for you.
It weighs about one pound.

You identify a studded leather collar.
It is a piece of metal soft leather armour.
It weighs one pound and two ounces, and it is worth about one silver.
Its keywords are collar, studded, and leather.