Maezer |
Pathfinder Adventure Path, Lost Omens, Rulebook Subscriber
A Piercing and bludgeoning (ie morning star) weapon will always do both types of damage.
A Piercing or bludgeoning (ie cestus) weapon will do one or the other.
This is primarily an issue when you don't want to do a given type of damage. For example if you hit an ochre jelly with the morning star it will split, if you hit it with the cestus, you could choose to only do bludgeon damage and thus not have it split.