To REWIND or not to REWIND. Spool Story number 5

I pluck a fat, old, dirt stained spool from the cookie jar. The thread is uneven  - much of it unthreaded over time and a bit of it rewound around the base.  THe top layer is a yellowed old dirty thread, the bottom is less dirty but not clean. it is off white but it is impossible to tell if once upon a time it was white.  The spool itself has no markings that are legible and the donut hole is cracked and jagged.
It is hard to imagine why it has not been discarded.  No seamstress would choose it for a new garment - even for a dolls dress.
I did not live through the depression - a time when this notion would be cherished and used for any number of things - darning, threading buttons back on, tying up found objects onto the window to catch the light or hanging Christmas ornaments - likely pine cones and acorns  - to a branch that had to do as the holiday tree.
I try to unravel the top layer but even it is a tangle. I think of the difficulty it would be to unravel it completely and rewind it. Could I? Should I ? What shall I do with it? It is no longer pretty. It is no longer practical. And yet, heading toward birthday number 67, it is hard to imagine simply tossing it.  Hmmmmm.