I think it really depends on what the item is and how you view it, too. If this were some sort of rare item, restoring it could actually decrease its value (and there is a rub to that, it depends on what collectors would be looking for it)...but I would hazard a guess this is not some exotic ,one of a kind item where that would apply.
Then the question is, how much do you like this item? If you think it is neat to have something so old, that kids 100 years ago or whenever played with this, then it may be worth the cost of restoration, not as an investment , but rather for the joy it gives you. It could be expensive to restore that, but it also might be fun to research its history, see if you can find examples of what it looked like, and be able to bring it back to life
. You may be surprised how much it would cost to get this restored, but I am of the school of thought that says if you can afford it and you really think it is neat, go for it.
