This is a wonderful little item. It's an "Indian Coin Silver" lipstick case. We think it was made in the 1920s, but it could be later. It has a coral accent stone on the clasp. When you pull it, the spring loaded mirror pops up. There are no markings we could find. It appears to operate perfectly.
I don't know if there's any way to reload a lipstick, but that would be even more cool!