The man said the set had belonged to his two children, who are now adults.
"We must have bought it for the children way back in probably the 70s."
He had a bit of a clean-out earlier this year, and knowing about the Northern Advocate's toy appeal, thought he would bring the items along at Christmas time.
The man had not completely decided what would happen with the toy set next, but said it was very likely the proceeds from its sale would be donated to charity.
"The intention was to give the toy to charity and the intention doesn't change."
He was waiting to establish a value for the set.
The Northern Advocate Christmas toy appeal collects toys for Lions and Barnardos. Northlanders are encouraged to drop toys into the foyer of the newspaper's Robert St office.
The donated set is yet to be assessed professionally but individual pieces in excellent conditions can be worth hundreds of dollars.
A full set was for sale on Friday on international auction site eBay for A$1500 ($1644).
The set donated to the toy appeal is not a full set but is in good condition, particularly the cardboard box.
Northern Advocate editor Craig Cooper said a local model expert had indicated New Zealand-made Timpo toys were rare and collectable, as the company only made a limited number of toys before folding.
