There was a recall on these shotguns, something about the bolt coming out and hitting the operator in the face when fired.
here it is, it says model 10 so I guess you're ok.
HIGH STANDARD/J.C. HIGGINS
12 GAUGE BOLT ACTION SHOTGUN
MODEL NUMBERS: 583.13, 583.14, 583.15, 583.16, 583.17, 583.18, 583.19, 583.20, 583.21 AND 583.22
RECALL: The model of shotgun may be subject to a BOLT FAILURE. When this occurs the bolt will dislodge from the action, striking the shooter causing serious injury. These shotguns were manufactured for and sold by Sears, Roebuck & Co. during the 1950's.
Call (800) 817-9165 for identification verification. Instructions for the return of the bolt and refund of $160.00 will be provided.