I had the same gun and same problem.
I found out that because it is a older model that you have to use a little more force and speed when you eject the spent shell. It should work because i have the cheapest wal-mart shells you can get and mine works just fine.
Ammo, parts, dirty
If it's a 16 gauge shotgun, the shell length is 2 3/4 inches.
Take it to a qualified gunsmith to find out for sure. Sounds like it could be a problem with an extractor or spring.
Try cleaning it, different ammo. If that doesn't work, take it to a gunsmith.
You need the services of a gunsmith. There are about a half dozen or so reasons if not more.
Any of the following could be the culprit; dirty, ammunition, springs. Take it to a gun smith.
Its quite simple as that it ejects the shotgun shell out of the gun after it has been fired but this depends on the type. A double or single barrel shotgun would only eject the shells when u hit the release mechanism to reveal your side of the barrel then they eject out.On any other type shot gun where u load 8 or have a clip they generally fling out the side when re-cocked or if automatic they do this automatically. Hope i helped
First make sure that your shotgun can cycle 2 3/4 inch shells. To do this, read the barrel, if it say 2 9/16 shells then that is your problem. Early 16ga. Browning's were made to cycle 2 9/16 inch shells. Next, check your ring setup inside of your stock, it may not be set properly.
Odds are it isn't a Remington at all, but rather an Ithaca Model 37. To my knowledge, it was the only bottom-eject pump shotgun ever made. As for value; any gun (or anything else for that matter) is worth whatever another is willing to pay for it.
Give it a thorough cleaning.