Nice! I have not seen one of those before. Personal opinion--sheath and shovel were stored and issued separately. These, like the 1965 German shovel I have are a far better design than the tubular steel E-Tool the US and most other militaries use these days. They feel like a quality tool, not a piece of pot metal like the current USGI issue. Of course, that being said, I've treated my USGI shovel poorly, and it's stood up. I have to frequently disassemble the German shovel, clean it, and then lubricate it, as dirt affects the function heavily. I lost a spring last time I disassembled it, and it it's currently out of service. But, it's a strong shovel, and with proper maintenance, it does more than the US issue shovel when needed.
Here is an OLD thread about it I (long before I started reading so many threads here, and building my knowledge) started not long after I first joined:
viewtopic.php?f=44&t=45323&hilit=shovel
Swiss issue stuff is really good quality, but expensive. I've been trying to get a leather and canvas backpack for ages. I do have a small 1984-dated "bread bag", and that thing is as tough as nails, and can carry more than you think it could. It's been a bookbag, laptop bag, and toolbag. I also have Swiss Soldiers, dated 1942, 1993, 2008 (last year the aluminum handle model was made before they went to the one-hand opener), and 2013.