Lew, having just purchased abroad a "Premier" quality E. J. Churchill sidelock gun that was completed in 1898 and bears serial number 978, which auction purchase followed consideration of a number of other period examples over many months, here and abroad, I would venture to say your earlier circa 1897 gun could be market-valued at approximately $4,000-5,500. I would add, however, that the value of the ownership of such an excellent antique gun from this quality maker, as this is, is inestimable, and that you should have no doubt that yours truly is a fine 'Golden Age' production. Moreover, although some among our fraternity will disagree vehemently with any sort or level of restoration efforts being performed, I would say otherwise and state that if conscientiously and not excessively restored by a true professional or professionals, the subject E. J. Churchill gun would increase in monetary value, as would the pride of ownership factor, which is too often overlooked as a substantial value.
I have seen comparatively higher denominated numbers online but do not personally perceive them as practicable or realistic when compared to actual market prices garnered in the world of the auction where I usually reside and do business. I base the above opinion entirely on the several photographs viewed with attention to the overall condition and according to certain specific areas I always first look at, but without knowing other basic considerations, such as barrel condition foremost, about lock-up, ejector condition, etc. and the answers to a host of other questions I have initially when considering a given piece to add to my collection. The fact that your gun is an "antique firearm," or "any firearm manufactured in or before 1898" (or pre-1 January 1899), as that legal term is defined in the federal statutes governing the disposition of the firearm (i.e. modern), curio & relic firearm and antique firearm in the U.S., adds a premium to the monetary value.
It is remarked that your gun's standing breech and what can be seen of the water-table appear clean, as do the metal surfaces elsewhere. The engraving appears 'unwashed' and reasonably sharp. The wood, both fore and aft, although understandably worn, especially where often handled, is nicely grained and the grain flows in the right direction for strength and durability. The wood appears eminently restorable and the fine chequering should be re-cut, but only if this refinishing / refurbishing is done by a recognized professional (e.g. Abe Chaber, Paul Hodgins, James Flynn, etc.). We all have our personal preferences for professional quality mechanical work that needs to be done and mine is Kirk Merrington, who, for example, does all my barrel work. The idea is to restore the antique gun sensibly and sensitively and not try to achieve an 'as new' look, which actually detracts from the 'value' and expected appearance of the gun. To me, the definition of value is that perceived by the owner, or the price willingly paid by a buyer of a gun at time of purchase.
Churchill guns were and are to-day top-tier guns, and yours is no exception; in fact, it is a fine example of a high quality E. J. Churchill gun finished during the maker's early period. These early period works are highly desirable but usable collectibles and are exceedingly few in terms of surviving examples. Personally, unless you are thinking of selling this gun, I would have the gun checked by a reputable and knowledgeable gunsmith, and if sound, would acquire proper ammunition (e.g. RST, Polywad, etc.) and shoot the gun. Even though mainly a collector of antique guns only, I adhere to the adage to enjoy today what I 'have' before those things to be enjoyed ineluctably become what I 'had' to enjoy. Please enjoy your antique gun to the fullest extent, whether afield or at the gun club; there is no better enjoyment to be had for the antique gun owner.
Regards,
Edwardian
