Packard Question

[Flatdoc]

I bought out an all Ford collection and in it found this Packard piece. I dont know if it is a watch fob or what it is but I know it's not Ford. Can any of you Packard officinatos identify it and what the value might be? If your interested in it e-mail me flatdoctor@frontier.com

[West Peterson]

It goes on a leather key chain fob. Value? ~$5, maybe.