Vintage P&H Crane Toy 1960s(?) Construction

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My late husband kept boxes and boxes of things from his childhood. After 14 years I am now going through the storage unit. I came across this toy; I have never seen it before and I am sure it has been in storage for at least 50 years. It must be a toy from his childhood (late 50s, early -mid 60s). It is mostly metal, I don't know exactly what kind. It appears to be in good condition, apart from minor scratches and regular boy-use kind of wear, but please note: I can move the crane part to the right and to the left, but I cannot lift it up. I think it is just "frozen" or there is a release I don't know about, but any potential buyers should be aware of this. The toy does NOT appear damaged (other than the minor scratches mentioned previously). It does have some dust and dirt -- I wiped it off with a rag but haven't done anything to it apart from that. It is time for these things to see the light of day and be appreciated. I am not a collector and I am not an expert of any kind; please check the photos very carefully and bid accordingly. I will be happy to answer any questions you may have.Thank you for your interest!