Hello Dawn. The train was a 1948-1953 set. The #302 engine is a low-end model, worth less than $25.00. Cars are typical for a low-end set.
The Erector set was made by AC Gilbert who also made American Flyer trains. Both were often given together. If you have the Erector set box, it should have a #1 to 12. !2's were the biggest, best sets.
