Welcome to the Forum. I can see pits under the refinish so guess it was maybe just bead blasted and Teflon coated. That fact negatively affects value, but since it is an heirloom, I doubt that dollar value is a big deal.

As for reloading, the straight wall cases for 32 Long are much easier to reload than bottle-necked cases like 32-20. Simple process with the correct .312" 98 grain LRN. Load and crimp properly so that the bullets do not move during firing and keep the loads light for paper targets. Trail Boss is perfect for this caliber, keeping loads soft and should shoot very well.

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Gary
SWCA 2515