Thank you for contacting Mearto and we apologize for the delay.
This is a 1931 Pan-American horn in good condition. This company was based in Elkhart, Indiana and operated from 1917 through the early around 1930. After that, it was absorbed by Conn Ltd., which continued to use the brand name until the 1950s. These instruments were manufactured for student and amateur markets.
Pan-American brass and woodwind instruments from the 1930s sell for around $200, though this varies with condition. In researching past auction estimates and prices, I found comparable examples, a few of which I have included links to below. The Fair Market Value of your instrument is between $150 and $250.

https://www.invaluable.com/auction-lot/conn-pan-american-baritone-horn-159-c-b974028d5f

https://www.liveauctioneers.com/item/11774359_23-pan-american-trombone-in-case

https://www.invaluable.com/auction-lot/b-flat-baritone-horn-640-c-gs7dnewclf

https://reverb.com/item/35752029-vintage-pan-american-trumpet-w-original-case?show_sold=true