As the writing indicates, it is an AF 1268 50 Watt transformer from the prewar era. There is tested working one on the bay for a BIN/BO of $5.95 with under $10 in shipping.
With small transformers like these, while they may seem or actually be rare, they generally do not have lots of $$$$ value.
As for yours as pictured, it is opened up and the cord cut off. This may be an indication it has failed. On the other hand, maybe the power cord was damaged and that is why it is cut off and disassembled. If you are brave and inclined, solder on a new power cable and check her out.
Regardless, I wouldn't call yours junk as the identification plate and knob are in relatively good condition and can enhance an operable one at the very least.