refinished Spencer

[Kent Shootwell]

Found a 1860 Spencer carbine in a shop that seems to be in good order. It had been sanded, buffed and hot blued with the stock sanded as well. It's a lined barrel with three groove and the forearm screw missing. I've considered buying it with the idea doing a proper job of polishing the metal then recase hardening it. The lettering is nearly gone but I think it would be a dandy shooter. Serial #57759 and still a rim fire. About what would you fellows think would be a ball park value?

[Kent Shootwell]

Well, Two Flints says "I paid $1400.00 for a nice shooting Spencer Carbine" so that is something to work with. Any other opinions?

[injun john]

Since you're looking for a shooter you might want to look at it from the perspective of how much would a new Armi-Sport cost? 
New a carbine is going to be around $1400 or better.  After you walk it out of the gun store its worth around $200 less,
after firing a few times knock off another $100 or more and by then you'll have invested an additional $350 or so in reloading gear and brass.
If you ever want to sell it.  It's an Italian rifle made less than 8 years ago.  It's value is always going down.

The original gun you are looking at will always be a real Spencer and if a good shooter then it's a prize. 
If it's a sleeved gun with a 3 groove bore then it should be in 56-50. Many were sleeved and rechambered from 56-56 to accept the new 56-50 cartridge after the Civil war and shipped out West to fight the Indian wars.   
The 56-50 is easiest  true Spencer caliber to load for. Not a heeled bullet but inside lubed with a strong crimp.
One less special reloading die to buy and that is always a plus. 
Brass is available at Buffalo Arms as is everything else you will need. If they are out or back ordering 56-50 dies check C4H custom dies online. That is who makes them for the original guns.
The gun at $1,000 to $1,600 if well cared for will always be worth that or most likely more.  So what's to lose?

If you enjoy shooting these guns, nothing beats shooting a real one.

[injun john]

Meant to say CH4D Custom not C4H.

[Kent Shootwell]

Thanks Injun John, all good points and is in line with my thoughts. Let's not forget the center fire breech conversion. Sad part is the shop owner asked $2000 for it but seemed willing to talk. But at that starting point the costs considering my work is worth some thing is more then my interest.

[injun john]

There is a forearm screw for sale on e-bay right now if you do buy this rifle. I bought the guy's forward trigger plate screw. 

[Rim fire]

It's been buffed, reblued-the collector value is gone.  Now you are looking at a shooter only.  I would value it at around $1000.  You can get 1860 carbines for around $1600-1800 that have not been over cleaned or buffed.  Right now there is a 1860 carbine on gunbroker in very good shape that the guy would take $1600.  I bought an 1860 rifle from the same guy two weeks ago with a mint bore for $1600.  It is not worth $2000.