This is THE precursor to Meccano. This is the first variation set manufactured by Elliot & Hornby in Liverpool circa 1904. Very few are known and the only one I could find having sold recently was in nowhere near this condition. The box is bright and clean with 95%+ original paint on the top. The gold sides and bottom are ~60% intact.
All the wheels are inside. The wheels, hook, crank handle, and the string (which has never been unwrapped!!) are in the box. Also there are 9 angle pieces, 5 perforated strips that are 5 1/2" long, all 6 grooved rods, and two other perforated pieces along with a whole bunch of nuts and screws.
The content label is 100% intact on the underside of the lid. Overall excellent condition noting that there's a bit of rust on the inside of the box, but I'm leaving this uncleaned as found.