It looks well maintained and will probably serve you better than the 1911 would. I assume its .30-30cal. That's still a pretty ubiquitous round and easily reloaded if you had any plans to do so. I've never shot one, but I have a Winchester Model '94 in 32 Special that's very similar and I'd never let that gun go.
They take a little practice to learn to bring them to your shoulder consistently, but once you have them sighted in for your grip and placement, they can become an extension of your body. They're one of the best hip shooting rifles I've ever handled. Some hunters would question why that's even a consideration, but remember (like the Winchester) they were designed to be a formidable cavalry or frontiersman combat long gun as well as a rancher's and trapper's hunting and varmint weapon. Survival on several levels is bred into the design. It just takes a little practice to connect with it. Enjoy
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