This is a Keystone wind-up boat that measures 10″ x 2.75″. The winding key is not removable and there isn’t a brake so when the boat is wound it must go directly into the water. This example is missing the bow flag, just the post remains. There were two different types of flag posts produced. The first was pressed out of a single piece of metal and the post is semi circular. The second was a flag pressed out of metal and attached by a nail. This boat has the first type. The flags can help date a boat. Production of wind-ups stopped during WWII due to the metal shortages and I have found no indication that production ever resumed. So a wind-up is going to be 1942 or older. The boats with a single piece flag are older between 1934 to 1937.
From my private collection.