Abstract: The invention is a hermetically sealed compact. The compact has a base with a compartment having an open end and a cover pivotably connected to the base so that the cover is movable from an open position to a closed position with respect to the base. A tray is slidably disposed within the compartment in the base for limited vertical movement and the tray has a peripheral wall with an upper sized and shaped top surface. An operatively associated seal assembly between the cover and the base includes a sealing member such as a sized and shaped gasket is provided to match and mate with the upper sized and shaped top surface of the peripheral wall of the tray to form a hermetic seal therewith when the cover is moved to the closed position. A latch assembly is provided to releasably secure the cover to the base and to move the sealing assembly to form the hermetic seal.