Welcome! It was likely shipped no earlier than 1965; these were not great sellers at that time and it might have sat on a factory shelf until a year or two after.

You definitely should remove the wood stocks and take something mildly abrasive (like brass, or very very fine steel wool plus gun oil) and gently remove the rust from the frame. This will hopefully take off minimal amounts of the remaining blue finish. If you feel qualified this is one I would inspect internally for rust by removing the sideplate.

If the internals are not rusty, I would guess this to be worth about $400. The external finish damage is hard on values. Hope this is helpful.

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Alan
SWCA LM 2023, SWHF 220