Vintage Omega 1950s?

From a collector's perspective, the watch has issues, which I won't enumerate because this is an heirloom piece. Suffice it to say that it does not have much value to anyone but you, and it should have tremendous sentimental value to you. It might have an Omega reference number, but equally likely is that it is a US-cased example. You would need to have it opened to know for sure.

Bottom line. In your place, I would treasure this watch above almost any other in my collection, regardless of condition and value. Maintain it well, and enjoy the history.