This pin is used to align the cam timing gear on the camshaft. Fits all small six cams (144/170/200/250ci).
While the old pin can be removed with a pair of channel locks and re-used, old pins can shear off if the motor is making a lot of torque. In extreme situations we've actually machined the camshaft and gear so two pins could be used, to prevent shearing under high torque loads.
NOTE: When you install a new cam, don't forget to use the washer/spacer off your old camshaft, which is installed behind the pin. Failure to do so will cause the cam gear to bind up, and will prevent the cam from turning.