We recently finished 55 boxes for a local promotional products agency, Brandblox. They supplied these to my alma mater, Colorado State University. They were faculty gifts and a 3" diameter compass was placed in each box.
They are made out of Colorado blue stain (beetle-killed) pine. We used a pair of Soss brand solid brass barrel hinges and a Highpoint brand small box catch. I highly recommend both of these products for making wood boxes. Also, we used Donjer brand emerald green flock.