Lesseee.....
Back in the early 50s, Pop bought a used 870 from a co worker for about $25. He made not much over $1/hr at the time. So, that was about a week's take home pay.
This was the base line model, no checkering or pad, corncob forend, 30" Full barrel. List price new was about $60 in 1950.
Sometime since 2000 I bought a used 870 from that time period (1955) in great shape, also with a 30" Full barrel. This one had the ADL wood and a decent pad. Price out the door was $178. That breaks down to a bit less than 2 days take home pay.
I've been lucky but I doubt any of my shotguns other than the Beretta O/U here cost more than $300 in present day dollars. Some, way less.
Just for fun, let's do a cost per use analysis.
Buy a used 870 for $250. Spend money on ammo, say a case per month at $60. That's about 2 rounds of trap or skeet, or one round of Sporting Clays per week. Not a serious ammo jones, IMO.
After a year or so, you've spent close to 3X as much on ammo as the shotgun. And the shotgun cost less than say, 3 days pay.
And if 870s really do last about 250,000 rounds before the receivers start cracking, that cost per use (shot) is about $0.01.
If you pick a nice used 1100, 390, 3901, etc, for $500, it's less than a week's pay, similar working life and a cost per use of $0.02.
Compare that to a K frame S&W, that will need shop time and repairs every 5 K rounds, Or a centerfire rifle for a hot cartridge like the 25-06,300 Maggie numb,etc. Less than 5 K rounds through it and the barrel will need replacement. And the scope on that rifle, even if of top quality, will be history also.
OTOH, few of us will outlive our shotguns. Few original owners wear out any shotgun, from Western Field to Westley Richards.
A decent shotgun is an incredible deal, mechanical immortality, versatility and reliability for a pittance......