An absolutely gorgeous Sterling Silver Propelling Pencil by Yard-O-Led, famous London Pencil Makers for nearly 200 years.
Undated, however the geometric design screams Art Deco, so probably made c.1930's for the American Market
This pencil has just been fully renovated by Yard-O-Led (paperwork provided) and works perfectly.
There are a couple of tiny dings - does not affect look or performance in any way
It is 12 cms or just under 5'' long