I have not seen one like that before. Would seem to be rare, but rarity does not necessarily make it monitarily valuable. Quality of manufacture and accuracy in use are key components to monitary value. The light color suggests zinc electroplated castings, common for more modern imported tooling. Old domestic products of this sort would be black having been treated with a chemical process not unlike gun blueing - long before the days of low-cost zinc electroplate.
You may need to shim underneath the post to set the height of the cutter to be on the axis of the spindle, depending on the lathe on which it is used.