More information is needed........the numbers on the rolling stock (cars), the number on the power unit (engine), and/or the number of the set (located on the box) if you have the box. Some folks here on the site have the means to research stuff by name but most of us must use numbers to look up values. Please keep in mind.....no matter what value is placed on any item by way of "the book"......you can only expect to get what another person believes is reasonable. Above all, the CONDITION of the item, will rule on the value!
Regarding your Iron Horse set. It was part of Lionel's "Traditional" line, and it was, therefore, an entry level set. As a set it would have to be in perfect, almost absolutely un-run condition, complete with all the individual boxes and the set box as well. Since this locomotive ran on either AC or DC power, the set would have had a small transformer or power pack..It probably came with 12 pieces of Lionel's 027 straight track and 6 - 10 pieces of 027 straight track, probably also a "lockon" to connect the wires from the transformer or power pack to the track.I should tink it has been used, perhaps even well-used.
excellent like new
8604 steam locomotive and tender 15.00 20.00
15201 207, scout type boxcar 4.00 8.00
16309 gondola 5.00 8.00
16505 caboose 5.00 10.00
027 track 20.00 20.00
transformer, or power pack (includes the lockon) 5.00 5.00
total estimated value 55.00 80.00
(this is what you'd likely have to pay were you to buy it from a dealer; if you sell it to a dealer, cut that in half)
If your inquiry is for selling the set, you might do better in a yard sale where you can set the price and see what interest there is in it..
All of this assumes your set is in working order and that it runs well.
