It can easily be taken up again. It was worn as a dress (I have a photo of my mother wearing it!)., and because of this the lining is yellowed/stained by perspiration, but given that it's been sitting in a closet for fifty years any germs (and any odour) are long gone.
The "SPECTACULAR VINTAGE 1960s Brocade Coat Dress" is an ideal fashion statement for those with a keen interest in retro clothing.