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It looks like you have a cigar box purse; made from a recycled cigar box. It isn't particularly old (I'd guess made in the last 25 years up to today), but there is a chance the flapper woman may have been cut from an original Marshall Field catalogue cover and embellished with rhinestones. I can't quite tell from the photos whether it is a facsimile. The lining is machine-sewn and appears to be in nice condition. If you Google cigar box purses you'll see that they vary in price from $20-$75.
I found the cover from the 1921 Fashions of the Hour.... it was a magazine/catalog
No, actually it would be a reproductions, since the originals didn't have such wide borders.
in my opinion new latch did you check out the vintage cigar box purses on ebay