Apologies for the delay, Halloween and fall break intervened. Strange having trick or treat on a Monday night, but the warm weather drew outdoors hundreds of neighborhood kids, most I'd never seen before who normally live permanently inside like mushrooms.
This is a very pretty cast iron or cast spelter easel picture frame, in a rococo revival style that has remained so endearingly popular ever since it first appeared in the days of Louis XV (1723 -1774) of France. This frame is late 1800s to early 1900s in date so is well over a hundred years old.
The "NB & IW" stands for the National Brass & Iron Works of Reading, PA founded in 1891 and in existence for only a very short span of years until 1911.
The way to test what metal it is, is to apply a magnet. If strongly magnetic, it's cast iron, if very weakly magnetic, it's brass, if not magnetic at all, it's spelter or pot metal. Actually, the composition of the metal is irrelevant as far as value is concerned, though the ones that are gold gilded are the most sought after.
This version of you frame, for instance, sold on line for $120 which is about the top end for one of these.
I would give yours an auction/eBay value of $80 - $120.
Full retail/replacement/insurance value: $240.
Hope this is helpful!
Now go put a nice picture of yourself in there and stop being so hard on your dear husband's wife (you!) calling her an old hag!