It is a horseshoe padlock, and at the same time it is not since it states "The New Century" and not 'Good Luck' like the other horseshoe locks.
This padlock sold for $31 (Plus $4 Shipping).This Vintage Lock stamped New Century horse shoe shaped O6 is in Good Vintage Condition. - eBay (10 Feb 09)
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And there was a second padlock offered for sale soon after:
Brass "The New Century" Horseshoe shaped lock
This padlock sold for $34.88 (Plus $2.99 Shipping).This beautiful little antique brass lock is, I believe, an earlier bicycle lock. No key (sorry!) and only visible damage is the little round part at the top of the key slot is split - so you could still get a key in, if you had one, and the piece swivels as it should, but I wanted you to know.
Great condition otherwise, and should polish wonderfully should you desire to do so - it is in "as found" vintage condition. Sold with NO RESERVE. - eBay
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