help to identify an object

[Tenenz]

please, can you help me to identify this object?

[amena]

Silver items with the insertion of hard stone cabochons was fashionable in Italy in the 1930s and 1940s.
The 800 mark within the oval would confirm the Italian origin and the other mark could be a homemade punch awaiting the arrival of the official one from the mint.
It's not the first one I've seen.
Regards
Amena

[Tenenz]

Thank you Amena for the reply, now I understand the punch better, thanks !!