This is a double-cloth coverlet, woven in two panels on a Jacquard loom. The yarn is 2-ply wool in its natural cream color, indigo blue and (I believe) madder red. The colors are beautiful considering this blanket is at least 150 years old!
Each panel is 40 inches wide, and the coverlet is 72 inches long, but the top border is missing. The sett is 15 ends per inch (6 ends per centimeter).
Coverlets like this one would have been made by professional weavers, with handspun wool brought in by the customer. This one has a few little eccentricities.
This coverlet is is not signed, so I can’t be sure of its age. The first Jacquard loom was brought to this country in 1824, but I don’t know how long coverlets like this were in style. I do know it is not rare – there are several similar to it in the book Weaving A Legacy: The Don and Jean Stuck Coverlet Collection.
For more images and information on Jacquard looms and coverlets, this is a nice page from Duke University.