A silver mounted black plastic? / lacquer propelling pencil. It's hallmarked for Birmingham 1923 maker FW. The lead holder emerges when the opposite end is twisted.
NB: The black nozzle end has two opposing slots in it which are for the mechanism and not cracks.
It's in good condition- a few minor dents to the silver and some abrasion to the plastic end probably by a chewer!
There's no lead in it.
10cm long closed
Stock no. JR09