It's not falling apart at all. I'm not sure of the age of either item.
I put the set together as a display. The belt is almost 30 long. Please see the photos for condition detail.
Look closely at the leather to see the age and wear. Notice, This replica gun contains the colored markings required by law, including a permanently attached orange plug. This item is in the category "Toys & Hobbies\Vintage & Antique Toys\Cap Guns\Diecast"._veteran_sales" and is located in this country: US. This item can be shipped to United States.