This is a lovely little vintage Art Deco Sterling silver compact. It has a classic Deco design with a beaded edge, a pinstriped background and a monogram in a cartouche in the center of the lid. The mongram is FFB and the cartouche is surmounted by a bow. The interior retains its original gold wash, and it is marked CW with an arrow which is the mark for the Webster Company of North Attleboro, Massachusetts, which was founded in 1894. This compact most likely had a handle or was attached to a chatelaine at some point since there is a loop near the hinge. I think it was probably a dance compact. The missing handle doesn't really detract however.
It measures 2 inches in diameter and it is in very nice condition, with some light surface scratches from normal wear.