Hi thank you for your question. With the development of photography pictures became more and more popular. As a result lockets were at the height of fashion in the 1880s.
Queen Victorian was the British Monarch during this time and June 21 in 1887 was jubilee day and in the history of Great Britain NONE surpassed that of the year 1887. In a thrilling moment in the blaze of glorious June sunshine, the Queen drove out through the gates of Buckingham Palace on her way to Westminster Abbey, just as she had done fifty years before on her coronation day. Shouts of the masses rent the air testified that throughout those fifty years she had retained the love and loyalty of her people.
Tens of thousands of people lined the streets of Piccadily, Pall Mall, Whitehall, and Parliament Street. Jubilee Day, 21st June 1887 was a day to be remembered by those who were privileged to be in London and to witness the royal progression to Westminster Abbey.
The V letter pave set with pearls on your Victorian locket would be the initial of "Victoria" Queen of England. No doubt this rose gold victorian locket was worn with great pride by a loyal subject at the time.