This seller must feel he/she has stumbled upon a rare noisemaker as it is being offered for $49.99. This item was manufactured by U.S. Metal Toy sometime during the early 1960s. All of the major manufacturers were using plastic handles by that time as they were cheaper than the previously used material, wood. I've always liked the winsome design of this tin litho item. These typically trade for ~$20.
Mark B. Ledenbach's vintage Halloween collectibles blog.