Hi Carolyn,

Thank you for contacting Mearto with your appraisal inquiry.
Yes, this has all the hallmarks of a Steiff and though there's always the smallest chance it was made by someone else I've appraised it as one. It also appears to have lived a well-loved life. This may be a case where it has greater "sentimental" value to you and your family than "market" value, which is what my appraisal is based on.
Based on the photos and information provided, and subject to examination, this is:

A vintage Steiff chocolate medium-haired mohair center seam jointed teddy bear
made in Germany, circa 1940s
With medium-length chocolate mohair fur, glass eyes, sewn nose and mouth, beige paw pads, wearing a gingham bow tie. Unmarked.
18-19 inches
CONDITION: with wear and losses commensurate with age and use.
PROVENANCE: inherited
$75-125*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Please let us know if you have additional items to appraise, or questions/concerns, and thank you again for using Mearto.
~ Delia