Nantucket baskets originated in the 19th century among sailors on lightships stationed off Nantucket Island, Massachusetts. These tightly woven baskets became a distinctive craft tradition of the region, with the purse variation being developed in the 1940s by Jose Formoso Reyes who added lids and handles to transform utilitarian baskets into fashionable accessories.

Nantucket basket purses are highly valued by collectors of American folk art and maritime crafts. The distinctive wooden base, tight weave, and decorative elements like the carved whale motifs on the lid make these pieces both functional and decorative. Collectors particularly prize examples with fine craftsmanship, interesting decorative elements, and those made by recognized basket makers from the Nantucket tradition.