The wood part is soft like cork wood , the thin end has a blue glass bead stuck in it . When I opened the glass part , some pinkish crystals fell out .
1970 COMPASS-
WHITES SILVER EAGLE-
WHITES DFX, 4X6DD COIL, 6X8DD COIL, 950 COIL, 10X12SEF COIL-
GARRETT PRO POINTER AT, GARRETT AT PRO , MINELAB EXPLORER SE with 8.5x12.5 Cors coil
Here is my guess...humidity indicator. I think those pinkish crystals are a desiccant/adsorbent that were once deep blue and changed to their present color as they absorbed moisture from the air. This is a link for information on the material to which I refer. This theory is also supported by the porous cork cone as this would allow moisture to pass through but keep the crystals contained. Additionally, the glass cap allows for inspection of the crystals to see if they should be changed or if the item in question has been subjected to excess moisture. Although I have never seen this particular item, I have seen many desiccant canisters/indicators in my day and this sure appears to be one.
You can test my theory by placing the crystals in a very low temp oven (or on top of a radiator/heater) for a few hours to drive out some of the moisture. If they turn blue again, then we are on the right track. Many - but not all - silica gels are "reversible" and will turn blue again.
Happy hunting!
Respectfully,
Batch
(and let us know if you try to dry out the crystals)