It works fine although it shows wear and tear from generations of children playing with it. The inscription on the bottom reads "MADE IN WESTERN GERMANY D.P. ang. The base is 8.5" in diameter and it is approximately 9.5" tall. If you accept videos, I can send one showing that it works fine.
This top was a gift to me from my Aunt who taught school in Germany. She sent it to me in the early 1950's.
Thank your for submitting your item for appraisal. This appears to be what you suggested, a musical spinning bell toy manufactured in western Germany in the 1950s. It appears that identical were also produced in Switzerland for Ohio Art Co. The toy in your possession is embossed "Made in Western Germany Deutsches Patent angemeldet" . The estimate is based on similar sold at auction. The sentimental value it represents to you can´t be measured.