Understand and thank you. I don't want to violate any rules or cause any problems, just trying to help a friend of 30 years. Thanks to all.
Pete

Pete, according to the serialization book 71796 is actually a 0 grade, 10 gauge, with 32" plain twist barrels. Parker didn't use the P grade designation until later.

Question about the shotgun
 

I've been told different things by 3 people on this.
One says it is a P grade
One says a 0 grade
One says its a grade 1

Which one is it and what's the difference?

It sounds like it is a 0 grade. Difference? Really not that much. Grade 1 and grade 0 Parkers were very similar. 1 grades would be of slightly stepped up quality.

It is a PT quality gun which translates to Plain Twist barrels on a grade-0 gun. Generally speaking, a grade-1 or P grade would have the designation T or T1, L or L1. Laminated Steel was considered superior to Plain Twist though a handful of grade-1 guns were made with Twist Steel barrels. In the 71XXX range scant few grade-1 guns were made. Though the Serialization book lists your gun as a PT it could still be a grade-1 considering the level of engraving and the fact that it was checkered. Nevertheless you can't make a grade-1 gun from something legitimately identified as a grade-0.





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Having twist barrels is a strong indicator you have a Grade O (the lowest grade) hammer gun. And your receiver has the familiar zig-zag border engraving, also indicative of Grade O guns.

The 'zig-zag' or 'graver walk' border engraving is also found on grade-1 hammer guns. I have owned several grade-1 hammer guns with this engraving but with Laminated Steel barrels. The barrel steel is generally accepted as the indicator of grade in these lower grade guns.

Here's one of mine.

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Thanks all for your input. Getting ready to list her on Gun broker tomorrow afternoon. Biggest issue I find with this firearm after spending some time with it is there is a small ding in the barrel. Looks like it hit an edge of something. It is small but looking down the bore, there is a shadow.
What price range should I list it at?
Thanks again.