This iron would not be safe to use and is being sold for parts or for nostalgia display purposes. The cord gets hot when the iron is turned on.
The cloth covered cord may be replaced for practical use. This vintage iron from the 50s-60s is made by GE and sold by Montgomery Ward. It has been highly used as the cloth covered cord suggests, and the soleplate shows wear as well.
This iron has three heat settings, is for spray steam or dry iron, and a fabric dial.