Buster, can you make an offer on it? Not to say that a LNIB, etc., low mileage, and maybe with some ammo gun isnt 'worth' it, its just that in many cases what they will actually take might be something a bit less than asked. Im fond of the TM (bought the only 3 Ive ever found) , still have two and would buy another if I found it for $300 or less, like Craigster did. I'd kinda be hedgin' at $400, but still might make the play of that was what I wanted, they just dont turn up much around my neck o' the woods. How long do you think you might have to wait for another (when you could be using it now), or what will another 38-55 'anything' cost you now?
Dont have any idea what you know about the cartridge, but it has been a well regarded deer and black bear taker for well over 100 years. It is very mild mannered and can be 'beefed up' to express loads on this platform. It kills out of proportion to its ballistics (it is a 'real' 38 caliber), but does have considerable drop, or mid-range trajectory, whichever you prefer. Though it will score well on schuetzen 200yr. targets, I consider it about a 125yrd whitetail deer gun (though I consider Im more of a 75yd. max hunter with 'iron' sights now).