Edward Todd spiral telescoping pencil. When you remove it from the sheath, there is an internal tube that applies resistance and “automatically” causes the pencil to extend to its full length which is four full extensions long. It is in excellent working condition. The Todd name is not on it anywhere but the barrel is engraved “Pat Aug. 9th, 92” which is a Todd patent date. It is also marked “sterling”.
"Pat Aug. 9th, 92", "Sterling"