Hi Alison,

Thank you for contacting Mearto with your appraisal inquiry.
Gem Toy Company began in NYC in 1913 and continued until at least 1931; it adopted the name "Gem Doll Corp" in the late 1920s and produced dolls made either all in composition, or ones with composition head/limbs and cloth bodies. Based on its characteristics, this appears to have been made in the 1920s or 30s. These dolls don't bring much - a related Gem "Topsy" doll sold just this past February for $15.
Based on the photos and information provided, and subject to examination, this is:

A vintage/near antique Gem "Topsy" Black composition doll
made by either the Gem Toy Co or the Gem Doll Corp, NYC, circa 1920s-30
The jointed composition doll with painted hair, eyes and shoes, wearing a short cream-colored onesie with green ribbon trim and green ribbon on her head. Marked GEM.
11 inches tall
CONDITION: appears to be in generally fair condition with some condition issues commensurate with age and use, including fine cracks to scalp.
PROVENANCE: inherited
$25-35*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Please let us know if you have additional items to appraise, and thank you again for using Mearto.