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Here I am answering my own question as know one else has been able to come up with anything. I posted this question here a couple of months ago. I'm typing this to help anyone out in the future. The gun is apparently a FEG (Femaru Fegyver es Gepgyar. This is the name of the place where the factory was, or the name of the factory itself. They made a more popular model called a "continental". A continental is worth about $300 - $400 (in 2007). I'm not sure if the "Monte Carlo" is more or less valuable as it may be more rare of an item. FEG is more into handguns now, but has made a wide variety of firearms over the years. Hope that this helps anyone.

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This Monte Carlo Model 1929 shotgun was designed by famous gun designer Rudolf Frommer in Hungary during 1926-29. The Monte Carlos were manufactured in small quantities from 1929 to cca. 1939 by Fémáru Fegyver- és Gépgyár R.T. Budapest. These shotguns are fairly rare in the USA, your 55160 is the highest serial I have seen. Well made, high quality guns, rare and collectible.

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Q: What is the manufacturer model and value of a 12 gauge break action double barrel shotgun serial 55160 bought at Sears Canada in 1965 in mint condition marked MonteCarlo and Made in Hungary?
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