If the diameter of the movement is about 42.3mm then I would say that you have a Caliber 19''' NN L 7P.
19''' for the diameter of the movement in lignes. NN for the "New Negative" time setting mechanism. L for lepine, the orientation of the movement in the case. 7P for 7 jewels.
The caliber 19''' has been said to be the most important caliber made by Louis Brandt & Fils and gave the name to the company. Your movement is unusual in that the hairspring stud is in the stepped balance cock, as opposed to being mounted on an "ear" of the balance cock like so many other Omega calibers.
Omega made a number of other brands and did not always mark the rear of the movement. You will probably find other information (serial No etc) on the main plate by removing the dial.
The case appears to have been made by someone other than Omega, and then the Omega stamp was added later (over the top of the maker's mark). As you noted, the 1.6 million serial number puts the case very early in the 20th century, possibly even the late 19th.
As to value, I'm afraid not a fortune owing to the cracked dial and the "genericness" of the watch (low jewel count, base metal case, no Ω dial), but it doesn't really matter, it's a very nice memento.
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