It's missing some paint and the hook is a little out of shape but this is a rare Land Rover. It is 406S, indistinguishable from 438 apart from the colour, and was issued when Corgi updated their Land Rover models in 1962.
The 1963 Corgi Catalogue has no less than six Land Rovers. Printed in 1962, it shows the Chipperfields model from Gift Set 23 and 19 but the green 438, blue 416S, navy 351S and fawn Gift Set 2S model with Pony Trailer are all shown as available later. So it would appear that 406S appeared in early 1962 but must have been withdrawn before the catalogue was printed, to be renumbered 438 and issued in a more rural green.
The 438-based issues all had canopies too whereas I believe that, like the 406 before, the standard 406S model did not have a canopy. The first release of the Series 2 Land Rover was in April 1962 for Chipperfields. My guess is that the 406S would have been issued at around this time too. I have seen a 406S box but the chances of now finding one of them must be extremely slim!
With so few of these around it is extremely difficult to put a price on them. The numbers must be very small and I would think they must have been rather fewer than the 25,000 351S issued. The RAF version is hard enough to find as it is!