OK, I am not one to go crazy over track, but this is a unique item.
So, this switch is broken, as the tie that the switch control is on is broken off, but this pair of parts is waiting to repair the switch.
You might wonder what is so special about this switch, well from what I can tell, the embossed "American Flyer 08" appears on c. 1914 switches only. I received the above switch parts with my 1914 setbox many years ago.
The later pre-1920 switches do not have the embossed lettering on the switches.