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On the web since 1997 specializing in dolls, toys and jewelry
It is called "The Columbian Egg" and is marked Made in Germany on the bottom. The top comes off to reveal a little cylinder shaped thing that pulls up with the words "Place the stroke parallel with the number required". There is a small hole in the top and I guess when the dial is set, the correct needle comes out the hole? It has no needles in it.
It has lovely artwork on the side and stands about 3" high. It has two little dings in one side (photographed) which are not distracting at all from the overall beauty and novelty of the item.
Not a world's fair souvenir, but possibly of interest to a world's fair souvenir collector along with a collector of Columbian Exhibition items, of which eggs seem to have been a sort of theme (I've seen several salt and pepper shakers in the form of eggs from the exhibition.)
Item ID: 351