What is this?

_null's picture

These might have nothing to do with typography, however, if anyone will know you lot will.
I found this in my bosses grandfathers collection of old (like really old!) dip pens and nibs, and have absolutely no idea what it is, or what it could be used for.
I'm guessing the whole lot should be from around 1950, maybe earlier. Some of the nib manufacturers are unknown to me too W.S.R Allcroft's Speedwell ring any bells to anyone?

The object in question:
Photos should be inserted/attached.
It's around 46mm in diameter, the inner transparent ring seems to be made from plastic, and within the piece some red dust, there doesn't seem to be any claspings or fixings, or anyway to open it in a non-destructive manner. The dust can move around freely, and makes a nice sound, but I doubt it's purpose is musical.

Any help or hints would be greatly appreciated...It's driving me nuts.

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