Realistically made gavel (judge's/auctioneer's hammer/mallet). Handle decorated with inserted faceted sapphire.
Mallet decorated with applied cartouche depicting Star of David and 7-light Temple Menorah over a shield-form coat of arms, please see photos. Probably made sometime in 1970's. Pictures will tell you more. Weight: 0.27 troy oz.
Spots you are seeing on the photos, are reflections of a camera and other objects. Minor tarnish/patina into ornament what is not a defect.Commensurate with age, the condition is very good to excellent. Rare for its image and overall condition.