It looks like an early 1900's watch- maybe 1920's or so, which is what Omega made that got their name on the map.
Condition is a bit beat up, but with an overhaul, crystal replacement, and new bow (around winding crown) it would be a great family heirloom to have.
Value isnt tremendous, and likely the repairs will be about or close to the value at present. Looks like a coin-silver case at first glance.
People sometimes think watches are worthless or should be free, but a family watch is something special, and almost any early omega is a great watch. Who knows what the movement condition is like though
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