By that date the barrel(s) would probably be solid steel rather than Damascus. Still, I would have a competent gunsmith check it out. Have the chamber length checked also. If it is not Damascus, if it chambers 2 3/4" shells, if the barrels are not rusted inside, if nothing is broken, if it locks up solidly, you should be able to shoot it with standard low (target) velocity shells. Do NOT use 2 3/4" Magnum loads. IJs were no Parkers, but they were not a bad gun and lots of them are still shooting. (Maybe tie it to a tire and fire a few test shots just to make sure it is safe.)
As to price, I am afraid its sentimental value far outweighs its dollar value, which I think would be less than $100 in even good condition.