Pocketwatch or pocket sundial

I am not exactly sure what this item IS..........I can't seem to get someone to identify it without an extraneous charge being involved.  It was left to me by my mother.  Has a gold stamp on the back, a very rough "1X" stamp on the back also (that's what it appears to be to me) and a hand carved front.  It has an engraving on the inside upper cover, a chain and it looks like a sundial or a nautical clock or instrument of some sort.  Needs to be identified please ;-)