Hello John and welcome to the forums. Your gun is indeed a grade 1, or otherwise known as a "PH" grade. The barrels are a form of pattern welded damascus called Twist. They look a bit short in the picture. What length do they measure? A good indication if they are original length is if there is a line engraved at the end of the rib matting at the muzzle. Then there should be a short gap of no matting. You should have the barrels checked by a gunsmith familiar with double barrels for safe condition and adequate wall thickness before shooting. Be sure to have the smith measure the choke restrictions also. I would guess that the stock has been replaced as it does not conform to the normal profile used by Parker Bro's and lacks checkering.
If everything checks out then it will be a gun you can shoot clay birds or hunt with, but will have little collector value in it's current condition.
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