Serpentine Antiques has dated this piece to the 1940s.
The pencil forms the locking mechanism, and slides out to open and close the notebook. Once the pencil is removed, the lid springs open.

The interior contains the original gilt edged notebook paper tablet.
Size-2.75 inches long by 1 7/8 inches wide.
Weight-55 grams.
With just a very slight pinch mark near bottom of pencil, this is a very lovely piece, by a very famous maker. It is excellent for a gentleman or lady, to keep in pocket, handbag or briefcase. Or, it would be an great piece for the collector of small novelty silver.
In very good condition.
Serpentine Antiques has dated this piece to the 1940s.
Specialising in unique pieces for the discerning individual, selected and prepared with special care..
You can view the stock and full dealer information on the Serpentine Antiques Profile Page