I played Erudite SK on live during Velious. I started with the key in my inventory.
Also,
http://everquest.allakhazam.com/db/item.html?item=24566
Comments at bottom of page indicate it is in your inventory when you first login.
Also,
http://wiki.project1999.com/Bone_Crafted_Key
Unofficial, yes, but p99 wiki claims it should be in inventory as well.