Digby Antiques (Wiltshire) has dated this piece to the Georgian era.
I have tried to research what the use may have been as it has never had a drawstring.
I guess an early vinaigrette.

The coronet and initials are obviously for a titled lady and are all done in what is most likely gold thread. The edge of the purse is also decorated with gold thread.
I have dated it to circa 1800 but quite possibly earlier than this.

Condition - pretty amazing. The colours of the embroidered flowers are probably pretty much as they were when first done. There are some tears to the silk, please see pictures. The silk was probably a stronger colour it is now a pale looking green, maybe the same as the inside.
W 16.5 including the decorated edge.
H 16 cm including the decorated edge.
Digby Antiques (Wiltshire) has dated this piece to the Georgian era.
You can view the stock and full dealer information on the Digby Antiques (Wiltshire) Profile Page