toy horse -- possible dates

This (broken) toy horse was found at a historic site (USA) in the 1920s. The original researcher believed it dated to the 1840s. I'm hoping to find more accurate information as to when this may have been manufactured. What would really wonderful would be to see an image of what a "complete" specimen of this toy would have looked like (i.e., would it have been a pull toy? hitched to a wagon?). The toy has a ring in its mouth, a small hole near the right ear, and another small hole under the spot where the tail would have been. There is what appears to be a "sprue" scar on the back. Obviously the only value for this horse would be historic, not monetary, so any contextual/historical information would be welcomed. Thank you.

Damaged