Sometimes these small carved jade objects are referred to as "hand coolers". Mainly because jade retains a coolness at all times and can be held in the palm of the hand. Also a kind of "lucky charm" as jade is said to attract wealth.
This piece has been carved into the form of a lotus bud and shoot.
It measures 3 1/2" long by 1 1/4" high by 3/4" deep.
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Hand carved Jade Lotus Bud