If it doesn't have a neck, then I think it is only of use as a decoration.
If it does have a neck, then its value depends on how much work needs to be done to bring it into playable condition. It won't be worth a lot, so it would be easy to spend more on repairs than it is worth.
If it does have a neck and it is in playable condition, then $50 would be a real bargain. A late 1920's Conn is a nice saxophone.
But it is a C-melody saxophone, not an alto or a tenor. These were very popular in the 1920's, but not much today. So if you are hoping to play with other saxophones, it isn't particularly useful.