Personally I'd keep it, but then I LOVE vintage machines.
But I know that to be a real old electric model, but not sure I remember the stitches it will do - am I right in thinking its flat stitch only ??
If it is only a flat stitch, then it really depends on what you would use it for, its fine if you're only interested in quilting for example, but if you want to do more, clothing etc, then you really need to upgrade to something a bit more versatile.
I'd still stick with an older model though, they are good solid old work horses & IMHO FAR better than most modern machines - but find something a little bit younger than this, such as an old singer, pfaff, frister or jones that will also do zig zag & maybe button hole.
You could try a local small ad paper to sell your singer, people do collect them & if its in good working order it shouldn't be too hard to sell - its a great machine for anyone who uses more than one at a time & would want a machine set up just for flat stitch- a seamstress, sewing class etc etc