This is a brass compass which was utilized during WWII. These compasses were a key item to have by your side. Many times at night soldiers would get lost or even at sunlight it was hard to tell which way one was going. These compasses were actually no that expensive. They came in a brass finish and with a white carrying pouch. Many soldiers saw them as a very meaningful item and took very good care of them. Grandfathers many times give their grandsons these special items from war on their birthdays and on holidays, maybe someday it can help them somehow.
source :
http://cgi.ebay.com/WWII-US-Brass-Compass-/190507688542?pt=LH_DefaultDomain_0&hash=item2c5b24a25e#ht_500wt_1076