Sorry guys...it is a powder compact! These are a real fast and growing collectible item - reflecting on the glamor days of femininity! This is a vintage one! Should bring $45 upwards (If I was you I would look at following references before you sell)
In the earlier years this was the perfect gift for a beau or husband to give his lady! Why, back with World War 2, soldiers would buy them to send back to their sweeties in the States (Military Themed compacts even!). Many collectors choose a theme (such as souvenir compacts, map compacts, Royal Family (Queen of England) compacts, Art Deco, etc.). Some collect by type (Celluloid (early plastic that are rarer), Enamel compacts, Mother of Pearl compacts, jeweled compacts, Silver or Gold compacts), some collect by size (Hatpins with compacts at the tip, Stuffed Animals w/compacts inside, Brooches with compacts) and some only collect top names such a Stratton, Arden, Estee Lauder, Coty, Max Factor, etc.
A must see collection is at
http://www.davidandnoelle.net/catalogue.htm#glossary. You will find compacts on sale at Ebay, TIAS and even Ruby Lane! There are collectors clubs in American
http://www.lady-a.com/antiques/COMPCLUB.html and Europe
http://www.compactcollectors.co.uk/ ! Prices range from the low $20's to rarer ones selling over $1,000's! Recommended books:"Collector's Encyclopedia of Compacts, Carry-Alls & Face Powder Boxes," by Laura M. Mueller ; "Powder Compacts," by Juliette Edwards