5/4 is a pretty heavy barrel weight...

Sleeved means that the barrels have had their ribs removed. Then the barrels are cut off in front of the chambers. The monoblock is what is left. Then the old chambers are bored out to a larger diameter. New tunes that are oversized are turned to insert into the monoblock. They butt up against it where it was cut off. That is the seam you are seeing. The tubes are profiled to match the monoblock. And then soldered into plate. Sometimes welded. If you look at the breech face, you will see the line where the tubes meet the original monoblock. Then the ribs are put back on.

This was done a lot years ago when people thought that composite steel barrels were unsafe to shoot.

Yes, value is reduced greatly. But if done well, it can mean a very shootable gun.

is it safe to say i can put it on gun broker as a safe shooter? probably going to loose my shirt on this one.. guess i should stick to collecting pistols haha thanks for your help

No one here is saying the gun is safe or not. Just telling you what you have.

I completely understand that. how do i value something like this? It is about 80% lowest condition I would say

I don't have much experience selling guns on line, but I'd say list it with the best pics you can and an honest and truthful description of the gun and what's been done to it: potential buyers will determine the value.

Josh,

Many years ago Damascus and twist steel barrels were considered unsafe to shoot with modern smokeless powder ammunition. This is an American phenomenon as the British are still shooting their properly proofed Damascus shotguns. There were warnings on ammunition boxes about not firing modern ammunition in Damascus or twist barrels. Plus many old guns were not properly cleaned and cared for so the barrels rusted causing pits in the steel in some cases making them too thin to be safe. Sometimes barrels burst from being fried with an obstruction in the barrel. The cure in the case of better more expensive shotguns was have new barrels of modern steel fitted or to sleeve the original barrels with modern steel barrels by cutting the original barrels off at the front of the chambers and fitting new barrels in to the breech portion of the old barrels. Not too common in this country as most of the old guns were not valuable enough for either procedure. Someone thought enough of this your gun to have it sleeved for what ever reason so it could still be used.

Hope this helps explain your gun.

There aren't enough pics to even determine the value at a distance. But it appears you have a lower grade Parker in not-so-great condition with barrels that have been heavily modified/replaced. Well under $1000.

OK, "sleeved". Cut barrels off ahead of chambers, maybe 3 1/2". Counterbore chambers so a "sleeve" can be inserted, the sleeve including a full length barrel of normal dimensions. The sleeve is sweated, soldered, whatever, in place and the outside of the new barrel and chamber is filed so the joint is hard to detect. The rib is then reinstalled and the whole package reblued. This was done in the sixties because composite barrels were thought to be unsafe. Your unstruck barrel weight is marked 5-4 which suggests that this may have originally been a ten gauge gun. What is the number (probably 2 or 3) stamped on the bottom of the rear barrel locking lug? This is your frame size. Give us these markings as well as rib markings and we can help you. How long are the barrels?

Sorry, I missed the posts where sleeving was explained. However, a sleeved #3 frame (if that's what it is) is a useful heavy gun and would sell for a few bucks, even sleeved. Tell us what your rear lug tells us about frame size. Are you sure this is a 12 gauge gun?