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That serial number indicates a sax from 1923 or 24, which would make it a "True Tone model. Altos (pitched in Eb) in playing condition are quite common and not particularly valuable $300 to $600, depending on condition - even less if not in playing condition.

Tenors (pitched in Bb) are not nearly as common and are worth roughly twice what altos are in similar condition.

C melody models are also common and sell for about the same as an alto. The C melody is pitched in C, between alto and tenor, and looks a lot like a tenor because the neck is shaped much the same. It's a few inches shorter than a tenor, though.

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