From the Staffordshire Hoard.
The Staffordshire Hoard is the largest hoard of Anglo-Saxon gold and silver metalwork yet found. Discovered in a field near the village of Hammerwich, near Lichfield, in Staffordshire, England, on 5 July 2009, it consists of over 3,500 items that are nearly all martial in character and contains no objects specific to female uses. The artefacts have tentatively been dated to the 7th or 8th centuries, placing the origin of the items in the time of the Anglo-Saxon kingdom of Mercia.
My guess is that it is a handle for some sort of small personal tool or weapon. There is a pommel. The problems with my theory are that the grip shaft is very short and would have to have been made to be held between two fingers and the cup-shaped hilt is very delicate and fragile. Might it be the handle for one of those scrapers for erasing your mistake when you are scribing a manuscript?
Staffordshire Hoard website
More videos of objects from the hoard.
Hat tip to Karen L. Myers.