It was used by a teacher about 1900. It's brass with a wooden handle, 9 1/2 inches high, and sold for $42 at a DuMouchelles auction.
Bells were used as time pieces. Not everyone had a watch or clock so bells were rung to remind people it was time to get ready for church or school. Collectors may focus on bells that had a special use—cow bells, fire bells, nautical bells, church bell, hotel bells or school bells; bells made of a particular material—porcelain, glass, china or metal; or figural bells. The American Bell Association, AmericanBell.org, is an active club for collectors.
Find prices of bells here and in the free price guide at Kovels.com and in Kovels on Antiques and Collectibles Price Guide 2011.