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Between the holes in the reciever and in the bbl, the collector's value of the rifle roughly nothing. That being said you have a rifle with one of the nicest actions out there, in a good caliber. It appears your Grandpa made a sort of poor man's express sights with the two rear sights. What I would do with that rifle would be to put a nice stock on it and possibly rebbl it down the road (I have always wanted one in 6.5x55). Make a nice sporter out of it and enjoy it. I'm sure someone else will come along and comment on the age and real world value.
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