Not if there are other people out there who are trying to stab you with their pencils. Having your own pencil to stab with in self-defense can be a deterrent to potential stabbers. I would venture to say that possessing a pencil would increase your chances of being poked accidentally, eventhough that is a remote scenario for people who handle their pencils safely.

Go tell a cat that he'll be safer if he's declawed, because then he won't accidentally scratch himself.