The compass: paradox or duplicate by Spiral Nemesis

So I've been reading a lot of theories that deal with time loops, paradoxes, and all sorts of craziness of that nature. A lot of these theories point to the Richard's compass as an object that is stuck in a paradoxal loop, since Richard gives it to Locke in 2007 who then gives it to Richard in 1954. "Where does the compass originate from?" seems to be a pretty common question.

Well, I had a small thought on that, and if it's been mentioned before then mea culpa but I haven't seen it. Has anyone thought that maybe, just maybe, Richard had that compass on him already in 1954? I personally think that he was on the Black Rock crew, and it would make sense for sailors to have that sort of equipment on them. So perhaps Richard had that compass when Locke flashed back into 1954, in his pocket, in a pack in his tent...doesn't really matter. Then Locke shows up and hands it to him and he thinks to himself "Hey, this looks like an aged version of my compass...how odd."

This would mean, however, that when Locke flashed back in time it introduced a SECOND compass into the timeline which would then be the one locked in the loop. Richard would still have his original compass and the one Locke gave to him when Flocke takes him to remove the bullet from Locke's leg. He gives Locke the second compass, Locke goes back in time and gives it to Richard and the whole thing begins (or ends...or loops) again.

Feel free to tear to shreds/comment/whatever.