Could be! As soon as I dug it up my 7 yr old immediately said "Oh that's a combination lock".
It does look a little like one, but it doesn't turn.
Definitely could be an old Odometer though. Thanks
It is pretty old I think. My 1948 Chevrolet has black numbers on white background. Not sure exactly when they changed but you can see the ones posted are from the 60's & 70's and are white on black.