Ithaca M49 Single shot, Worthwhile repair?

lcdrdanr

Picked up an Ithaca M49 single shot .22LR for the princely sum of $25.00 in pretty rough shape. For those not familiar with it, it's a short 18" barrel lever operated Martini action with a fake magazine tube to look like a Win 94 saddlegun. This one is a later one (mfg 1961-1970)with the dovetailed front sight and dovetailed magazine tube holder and might be a youth model, it's only 11-3/4" LOP and just over 32" long. While functional (it shoots) cosmetically it's not a pretty sight.
Main issue is the ejector is worn and no longer pushes the empty shell out after firing. Other issues inclue missing tube cap, broken front mazazine tube ring, broken spur on hammer built back up with brazing and most of the painted finish chipped or missing. Wood is in decent condition, scratched and worn but no gouges or cracks and pressed checkering is still clean. Bore is clean, accuracy is acceptable.
Looking at Numrich and other on line sources, I'm guessing it's gonna take about $50 in parts to replace tube cap/hammer/ring/ejector (if I can find an ejector). And, it's held together with pins, not screws, and they may have to be replaced after knocking out, probably another 10 bucks.
My question is, what's the consensus about putting $50 or $60 bucks (my time would be a labor of love with no value!)into a $25 gun. After refinishing the wood and metal (cold blue the barrel, paint the receiver) does anyone think the resale value on the gun would equal the amount spent on replacement parts ? Or should I just keep it as a kick around gun that I pry the empty shell out with a fingernail? Or just move it on to someone else at a modest profit (hard to lose with a total investment of $25, right ?
I appreciate others insight and comments
Dan R

BigLoop22

DanR,

Have you watched these videos?:

Ithaca Model 49S Teardown and Ejector Repair (1of2):

http://www.youtube.com/watch?v=bA-ql2gbTfM

Ithaca Model 49S Teardown and Ejector Repair (2of2):

http://www.youtube.com/watch?v=W1ctVwuj-t0

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rufe-snow

I found out a long time ago. It aint worth the time, money, aggravation etc. Screwing with old basket case guns, that aren't worth that much money to begin with. Don't let me rain on your parade though. Just be aware when you finished with it. Very unlikely your going to becoming out ahead.

Unless you can get the replacement parts for free. And you know for a fact that they are just a drop in fit. Without having to drive out the steel pins. That probably are frozen into the aluminum frame by electrolysis. Drop it like a hot potato.

mcaso

Spend $20.00 go to a movie. An hour later what you have is - It was a good movie and a minus $20.00. Fixing up the rifle is just as entertaining, more interesting, and when you are done you have a rifle that you spent a little more on than it is worth. But you have the rifle in your hand and the memories of you did it. Six or seven movies and you have memories of what they were and a minus $180.00 to $200.00.
Have fun.
Mike

charliemeyer007

If it were mine I'd fix what I could for free or nearly so.

Fatstrat

Here's my take. They are popular nostalgic guns. I stumbled into two of them in the last few years for cheap. And easily doubled my money reselling them. And didn't have to try. I just responded to want ads asking for them. Both were VG condition.
But I've heard horror stories about repairing them.

kannoneer

It could be that the ejector is OK; mine fired a lot of shorts and the corrosive chamber buildup reached a point where it would not eject long rifles and eventually even shorts. I buffed out the chamber and it now ejects both fine.
Others talk like the gun was made by Jennings or something but it is a good quality piece. Around here I have seen them sell for $150 to $200 in good condition and perhaps $60 or $70 in the condition you describe.

lcdrdanr

Many thanks for all the insights, it helps make a decision to know others thoughts.
Huge thanks to BigLoop22 for the links to youtube regarding the take down, not so worried about the pins after seeing how they took them out in that video.
The ejector is actually worn off so badly that although it moves properly there isn't enough meat left to catch the rim of the cartridge. I may try peening it or building it up since it is the most expensive and hardest to find part, about $25 when in stock.
I think the majority opinion is that if I can keep the costs down it's probably worthwhile trying to bring it back up. If I screw it up or crack the receiver or something I can probably part it out for the money I have in it, if everything goes well I will probably have something worth as much or a little bit more than what I have in it.
Again, thanks to all

Dan R