Mexican Taxco 925 silver hobnail cuff bracelet, stamped TL-93 indicating it was made in Taxco after 1979 by an artisan whose name begins with "L". Total weight is 51.4g.
Inside dimensions: 2 1/2 inches by 2 1/8 inches. The space is 1 inch wide so this would fit a medium to small wrist.
It is in excellent condition.