I don't know much about guitars and am particularly lacking knowledge on vintage Martins however, a friends great aunt many years ago was given a Martin that eventually made it into my friends hands. The date inside is 1896. He had it taken to Martin who looked it over.

It just wasn't all that valuable. They priced it at under $1000. 1896 wasn't a good year. So old isn't necessarily equivalent of valuable.

Wesley, I hope your story ends up with a great ending. I remember going to a guitar sale with the same friend. Without a doubt, our favorite guitar of the day was a vintage Martin priced at $40,000. That guitar absolutely sang.

Tell your friend to be especially careful about who he takes it to. Or maybe he should ship it to Martin. Often the repair job can take away some value.

Good luck.
Emily