Hi Mr. Duck......welcome to TFF.
What a neat find!
Since you found a 1940 license with the gun, it's obviously pre-1940 and that would make it a Browing A-5. Serial #88546 was made in 1929!
Browning A-5s were made from 1902 to 1999 and over 2,000,000 were made during that timeframe.
Value is gonna be tough, since the A-5 was made in a number of different grades (engraving, inlays, grade of wood)....and value is also affected by whether the gun has a solid matte rib or vented rib.
Can you post a picture of it? If not, give a description of any, and how much, engraving on it and what type of rib it has.