You've got a potentially valuable timepiece there. Longines chronographs from the 1940s and 1950s were regarded as the best in the business, even above Patek Philippe chronographs. An interesting tidbit of information is that their vintage chronographs in steel typically sell for more than the equivalent model in gold, unless it's a particularly rare gold model. The reverse is true for their dressier less complicated watches - gold will be more valuable. Have it examined by a good watchmaker, it's certainly worth having it serviced, plus they will be able to see the serial number written on the movement which you can send in an email to Longines and they will be able to tell you some information on the watch.
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