My father is a member of the mechanical bank collector's association of the USA, and has been collecting mechanical banks for 50 years. He said besides having all original parts, what determines value is the amount of original paint on the bank.
For 2013, the average list price for an all original bank with 80% original paint is $2,200. With 90% paint it's $4,800, and with 97% paint it's $14,000. He said the bank in the photo is real, but in the condition it's in, it would be valued at max $100.
For comparison regarding paint etc, here are photos of his bank:
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