An old wallet? I'm not recognizing this as well as I'd like. Looks like lovely soft old leather, The glare of the light off the leather and the snap is a bit much. Indirect light, bounced off a white board does a good job of even lighting.
I'm not sure what your title is trying to tell me. Great Photo..... perhaps a bit of paper or a different light position could have reduced the flare on the stud though?