Compass, Pocket, US Army Air Force (COMP11)
This is a WWII-era pocket compass.
According to collector George Fulford's notes:
Its aristocratic heritage shows: the perfect gentleman’s pocket compass. In fact it does look like a watch where you have to push the top button to open and see what’s inside. Closing the lid also locks the compass needle in place, which is essential to longevity. Still in its original box.