18K yellow gold mechanical pencil made by Tiffany & Co. with their classic "T" bar. This example of their "T" is a softer font with rounded edges, compared to the harsh and sharp lines of the current T bar pen and pencil versions. Outer casing is 18K solid gold, the inner mechanism/writing component is possibly stainless steel or base metal.
Complete with original packaging, including Tiffany's velvet lined box and a polishing cloth/pouch, as seen in the pictures.
Sold as is, currently not holding lead taught, may need a different size of lead or possibly needs to be sent to Tiffany's repair department.