At most, worth about half the asking price as a "shooter".
I don't believe it's a 1970's commercial Mauser frame, but rather a M1906 frame.
IIRC, the safety on the Mauser frames wrapped around and entered both sides of the grip. Perhaps the cutouts were only on the grips, and they used an original M1906 safety?
Gerben or Mauro would know if they did an exact M1906 later after Sam Cummins requested a return to the classic designs.
Note that at some point, an original serial number on front of the frame may have been removed and changed to "04". Changing a serial number is against ATF regulations in the USA if this was what was done.
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 Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.
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