Given the gaps against the frame and wood to metal fit issues, it is hard to tell what you are looking at based on the photos. You would not know for sure until you get into it and see what can be done. It looks like there was previous damage done to the bottom of the stock up by the head. Like I said, the current stock can most likely be tightened up and fitted up better so that it can be made to be a secure shooter. But it most likely would not be perfect from the standpoint of fit and cosmetics. And obviously a replacement guard and screw is needed.
Given the condition of the rest of the gun, a nicer repair might be more suited to this gun. Like a new stock or a replacement stock. It all boils down to what you currently have into the gun, and what you want to put into it. And also what the overall condition is of the gun now. You said you inherited the gun, so that means no initial cost and the gun has great family history for you. This gun as it sits would not be worth much more than $300-400 to most others given its current issues.
A 1 frame 12g gun is desirable among field hunters. And grades with fluid steel in good condition are always a plus.
With repair of the current stock, it would not be worth as much as it could be with a more proper repair (ie: new stock or replacement stock). But value would be boosted since immediate issues would be addressed. It really depends on how nice you want it to be. Since it owes you nothing, I do not see any option putting you under water on it.
Especially if you plan to keep it and use it.
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B. Dudley
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