That gun was made in East Germany. The 201E was the next to the lowest grade OU (that was the 200E). Chokes are basically improved cylinder/improved mod--pretty good for hunting. Barrels just a hair over 26", which is a bit short according to the current trend, but not bad. In 20ga, I'd say somewhere in the $2500 range, give or take a bit.
Thanks L. Brown for the reply.
I have seen quite a few of the 200E 12 ga on-line going for around $2000-2850 range. The 201E I have seen on-line have been the Pre-WWII which seem to command a higher price $4,000-6,250.
I have not found a 201E in 20 ga in that year model yet. Did find a 201E 12 ga 1984 for $3450. Some Merkel dealers have told be the 20 ga demands about 10% more then the 12 ga.
The search goes on.
Regards,
Steve