What kind of bit is this?

Anyone know the name of this bit? Found it in my grandpa's tack room while cleaning and have never seen one like it. Any idea on a price range? Thanks!

Hiya, its a Liverpool Driving Bit though I didn't think they came in 'jointed'.
Just used on the ring it is a mild bit, and if you thread the reins through any of the slots it gets harsher the lower down you go.
Value, not sure, I have a pony size one if I sold it second hand I would expect to get about £15 for it.

Claire

Ok thank you! Any idea what that is in US dollars? :)

Hiya, probably about $25 ?
If you looked on e-bay, you might get an idea of what they are selling for.

Claire

Yep, got it. It looks like new they sell for around $40. Thanks!