A lovely antique watch fob. It's silver tone metal, with rounded etched links and a compass on the end. The compass seems to be in working order and has nice thick beveled glass on either side. I found this piece at a town square flea market in Villach, Austria.
Marked with what looks like "G.R.C.M." and "N. 12241" Also has another mark on the hook which I cannot make out. Whole piece is just over 6.5" long, compass is about 1" across.