And the top of the morning to you, Jim
There was no SPENCER GUN COMPANY. That is what I call a "Trade Brand Name" shotgun. A "Trade Brand Name" shotgun is one that was made by a major maker (and before 1940) for and was sold by a wholesale sporting goods dealer, a retail chain store or an independent seller (your local hardware store) who chose the name to go on the gun. Between about 1880 and 1940, there was a great interest in all things having to do with shotguns, designing, making, selling (especially selling) and shooting shotguns. The fore mentioned sellers wanted guns with names of their own choosing on them to sell. The major makers were only too happy to meet this demand. They would take one of their standard models and stamp almost any name in the world on it as long as there was a minimum order and in some cases the buyer paid for the die needed to stamp the name. Guns with the name SPENCER GUN CO were made by one of three makers, either Crescent Fire Arms Company of Norwich,CT (1892 to 1930+) or Baker Gun & Forging Company of Syracuse,NY (1887 to 1919) or Torkalson Arms Company if a hammerless double with a patent date of May 12 1891. The guns were made for and sold by the Hibbard Spencer Bartlett Company of Chicago, Il, a wholesale sporting goods dealer. There was no connection with the maker of the famous Spencer rifle and with the first successful pump action shotgun with the same name. Based on my experience and research, I believe your gun was made by Crescent Fire Arms. Again, can't be too sure because there were two different models of Crescent made hammerless doubles with the same serial numbers, the gun was made in either 1906 or 1929. Value? Everyone wants to know. These old guns were inexpensive even when new selling for a maximum of maybe $25.00 and they haven't appreciated much over the passing years. Current value will depend on the guns condition, the amount of original finish remaining on the metal and wood as well as the mechanical condition. A prime condition example (rare to very rare) in the standard gauges that appears to have come out of the factory yesterday afternoon might bring as much as $150 at auction while a rusty and pitted metal, rotten or broken wood and missing parts piece of junk fit only for parts salvage or as a whisky still stirring stick might fetch as little as $10. Most I have seen sold on the various gun auction sites have sold for between $50 and $95. A word of caution. if the gun is the older one, it was designed and made to use old ammunition, 2 1/2 inch shot shells loaded with black powder and lead shot. If it is the newer one, it was designed to use either 2 9/16 or 2 3/4 inch shells loaded with low pressure smokeless powder and again lead shot. Neither was designed for 3 inch or magnum shells loaded with high pressure smokeless powder, steel shot or solid slugs. Only a good competent gunsmith can determine the chamber length. Please have the gun inspected before attempting to shoot it.
