Judging by the magnificent patent "Waspak" wood wool and tin can packaging, it looks to date from the 1950s - if so, then it must have spent the past seventy years at the back of a cupboard unused. There is some tiny surface marking, but otherwise both the chuck and collets appear in close to pristine condition.
The tightening ring turns smoothly by hand - it feels as it looks, as-new - but is missing the chuck key. The collets are still in their protective plastic wrapping, some with waxed rust-proofing paper still in the bores.