I personally wouldn't be quite so hard on it regarding a possible refinish. IF it was, it was done a LONG time ago, and done right, not all buffed up and salt blued.
To me it looks like a nice old gun with a great story to tell. But then I'm a sucker for a touch of patina.
I'd say $800-$1000 range. But priceless to your family, regardless.
dju
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