Lev's old music box is a reward from Beneath Cursed Tides quest. It is used to unlock the original version of Newbie Melody music track. Once used, it crumbles to dust and cannot be reclaimed, showing the message: "As you spin the handle the music box plays an old melody, but crumbles as it finishes."
If destroyed without using it first, a replacement can be obtained from Wizard Myrtle north-west of the Wizards' Tower entrance when you ask her to dive again. You will receive the box once you arrive underwater but you must speak to Myrtle rather than using the right-click Dive option.
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