BRIO started introducing its wooden toy train system with wooden tracks in Europe in 1958.
It may have been the first company to use the "peg and hole" system to connect the pieces in mass production that all companies used. The peg system has been replaced by magnetic connectors. BRIO may have been the first company to use beechwood for this product.
What's it worth? Take a look at this Brio price guide: sold listings for a value indication.