I would say nothing is intrinsic in the valuation of a gun like this.
The gun will have a value in the current (interested) market based on what it is in terms of original quality and current condition. I mention interested market because an L.C Smith would only be interesting to L.C Smith enthusiasts. For example, I would not pay $200 for it as I am not the slightest bit interested in them.
Those interested in L.C Smiths will see the gun and will attach a vale to it as an object. You then throw in the novelty value (in this case the first number of a run) and see how many people in the interest group care enough about this to pay for it, then, if so, how much more than the other guys.
For example, if you have the first Purdey made in the 20th Century, it is a numerical coincidence that nobody is likely to care about enough to pay any extra for. Maybe L.C Smith collectors do care - no telling 'til you try them.
