pan-american sax

i have an alto sax that belonged to a family member. on the sax the markings say pan american elkhart ind. usa. on the back for the serial # is 121288.this is a gold instrument. the key pads are mother of pearl. i know this has been hanging on the wall in our home for atleast 30 years. i know it is older than that. i have tried to find info on this and no one can tell me anything about it. i took it to our local music store and they said they didn't know anything either. we are trying to figure out if it is worth fixing up for our children. if anyone can tell me anything about this i would appreciate it.i would like to know possible year and value.

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