G33437, J2. This is a model F92L compax. The frame was made in February 1942.
I don't value bikes, it can cause trouble when you value it at more or less tan the owner thinks.
At first glance it is missing the correct chainguard and front sprocket, and there appears to be something odd about the folding mechanism on the frame, although it may just be the angle the sleeve is at to the camera. It is also not the reinforced 'Military' version. It does seem to have the original folding handlebars, which is a positive point. The rack is off something else.
It is most definitely a early 1942 Compax. The full Columbia chain guard and the Columbia Kidney Bean style chain ring (both probably from 1941 stock) although not normally seen on the Compax appear to be original to this bike and may very well be since bike companies in early 1942 were using up available supplies of stock parts in preparation for wartime bicycle restrictions.
As everyone else has stated, it's a prewar model made early during the war. I doubt the luggage rack came on it from the factory. The front sprocket and chain guard are period correct but not seen on the Compax so it's unclear if it came that way. Your frame is bent on the top rear stay. The original folding bars are worth more than the rest of the bike in it's present condition.