Reloaded ammo is of dubious value. I would never shoot someone else's reloads. For one thing, even if he made no mistakes, he may have developed it relying on pressure signs in a gun that's stronger than yours is or that has a longer freebore in its chamber. So you can't know for sure your gun won't be overworked by it. I would figure on having to invest in a bullet puller and do all the work of disassembly. You can then salvage the bullet and case and primer, but the powder should probably fertilize the lawn just in case the labeling isn't correct. You also don't know how many times the brass has been fired, so I wouldn't count on it having much remaining life. Pay maybe ten cents a round for the bullet and primer.
As to the rest, take a look at on line auction actual SOLD (not asking) prices and see what you would be likely to pay for it there. Individual case may get high prices due to auction excitement, so check the lows, too. I would guess your suggestion of half current prices is not unreasonable. If he bought it a couple decades back, that'll give the widow about everything he put into it.
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