The gun was not a terrible buy for what it is in the condition it is in. Obviously as low as possible is always best with a gun in this shape. But you have to start somewhere and a shootable VH for $500 is to be expected.
Make sure that your gun is in fact off face and in need of repair in that regard. Looseness on the hinge when the gun is open is typical for a well used gun as it is just the nature of the design of the forend and hinge. What is important is if the gun is tight when locked closed. Movement when closed could be an off face condition or could just be a loose lockup. And a loose lockup can be improperly mistaken for being off face.
It is hard to tell if the barrel blue is original or not from your photos.
And replacement of the Ithaca style raybar sight can be done without much trouble. But likely not with a factory bead. A modern brass or aluminum style bead would be the ticket since it has already been opened up larger for that current sight.
If the stock head is tight and has no movement, I would just keep the stock on it as it is with the pinned head. Unless you want to mess with restocking. Remember... money pit.
If you put $450 into breech work, then you are already into it for more than it is worth.
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B. Dudley
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