Elena! Great find, thanks for tweeting!
“This little knitted woollen pence jug was used as a purse for change or as a container for small items. By the 19th century, patterns for decorative objects like these were being noted down and published in popular books. A knitting recipe for ‘A Pence Jug or Purse’ in My Knitting Book by Miss Lambert (1844) states: ‘To be knitted with five needles, No.20, with claret and green German wool….It may also be worked in silk.'”