This unique pendant features a double bail design. The handle of the hammer is in a tight spiral. Opalescent (possibly moonstone) stones decorate the top and bottom, with indigo (possibly amethyst, topaz, or sapphire) stones on the sides of the hammer. The back features bindrunes and knotwork.
This piece is of unknown provenance, but appears to be made of silver. There is a “CT-SM” mark on the bottom of the hammer, and it polishes nicely.