Looks more like a silver (or silver plated) compact to me. Have you opened it yet?
Found a compact many years back, and once cleaned (outside) I had planned to leave
it in that state as I was fearful of damaging it by opening. My Mom said that girls
when she was young (1930's) used to carry a coin in their compacts so they could
always call home, or have bus fare if needed.
Sure enough, there was a Buffalo nickel (no date) sitting inside!