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This is some kind of fraternal code on a stone watch fob of gold-plated brass. It measures 1 & 3/8' by 3/4". The stone is translucent--likely chalcedony or other agate.
1 & 3/8" by 3/4"
Watch Fob--Fraternal Chalcedony in Gold=plated Brass
Your Satisfaction Always Is Guaranteed