I'm glad this got reopened as I wasn't around here when it was originally posted.
This is the type of collecting material I find fascinating. Far more interesting than some unobtainium factory variation of PW Lionel. Primitive, or not so primitive 2 rail has a sentimental value to me. It reminds me of a brief, yet impressionable experience with the Toronto Model Railroad Club back in the '70's.
Just speculating here, but whenever I hear of the unearthing of slumbering collectibles where the original owner passed away a half century ago, there's usually a common reason. The Vietnam war. Many a young man never returned alive and many parents saved such things as their sons cars or crafts as a memorial. It might sound a bit morbid but it seems more likely than any of our better halves keeping our junk for 50 years.
Bruce