Looks like a late 50's Seamaster chronograph, with 321 movement. The 321 is highly regarded and was the same movement used in the Speedmasters that went to the moon. While not rare, these aren't overly common, especially compared to the standard 50's/60's 'time only' Seamasters.
Despite being called Seamasters, these models aren't particularly waterproof, but they are collectible and with a service by a good vintage specialist, there's no reason this can't be worn for another lifetime.
I'd advise against Omega. They will often replace parts and over polish the case. Where are you located? We'll be able to give some recommendations for watchmakers who are more sympathetic to vintage pieces.
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