I was a new engineer fresh out of college in 2003. An electrician working for me asked if I knew anybody needing a shotgun. My ears instantly perked up, asked what he had. He said he had an old Ithaca 20 guage that he bought from his buddy for $150. His buddy needed money, he had no use for the gun, so he was just trying to sell it for what he had in it. I immediately told him we were going to go look at it, we went to his house, turns out its a 1949 version. I went to the ATM, got the cash, and had a new shotgun, all on work hours. The buttstock had had a slip on recoil pad at some point and the finish was puckered up from holding water in it, but was still solid. I refinished the stock with Tru-Oil and have enjoyed the heck out of it. I wish it wasn't choked extra double full, but I still hit pretty well with it. I don't want to put tubes in it to screw up the original barrel, and an OEM barrel from Les Hovencamp is $200+.
I'm always on the lookout for a 16 guage with the same corncob forened. Found a mint one at a local shop for $300. Thought it was high, then thought better of it the next day, went back to buy it and it was gone. Still looking. Would like a 12 and a 16 guage to match my 20, corncob forends only.
For those interested, I found the complete tear down manual online, saved in a pdf version. The current manuals through Ithaca's website just go as far as removing the barrel, saying thats as far as you need to go. The manual I've got shows you how to dis-assemble down to the component level, lots of little screws to keep track of. After 8 years I tore it down completely, cleaned with brake parts cleaner, lubed up and reassembled. Smooth as greased owl crap now, not that it was bad before, but it is 100x's crisper in everything it does. Guess thats expected, assuming it hadn't been pulled apart in 60 years.