There is an Ithaca hammerless s x s 12 ga nitro powder steel barrels shotgun for sale now on auctionarms.com:
http://www.auctionarms.com/search/displayitem.cfm?itemnum=9421827&oh=
The current high bid is mine at $156. It has three more days before close of auction. It's serial number appears to be 71938, which would put it near the same manufacture date as yours. I just bought one from gunbroker.com for a little under $200, which included shipping of $25. I believe mine is newer. Neither are in great shape & that always makes a difference. If yours looks like it did in the hardware store waiting to be sold, I am sure you could triple these prices. Nov 1, 2009
Your serial number indicates that you have a Ithaca crass model double,that was made in 1903.
1906
built in 1908, 104 yrs old
Go to diamondgunsmithing on the internet and enter your serial number. That will do it.
There's a list of serial numbers by year at http://ithacagunrepair.com/page5/page23/
Made in 1901
This should be a Lewis model, made in 1902.
It is an Ithaca model NID made in 1926
It is only worth what the person buys it for...
According to a table in "Ithaca Gun Company from the Beginning" it was made in 1901.
The gauge is stamped on the water table by the serial number. It is a Flues model made in 1924.
The Ithaca Hammerless 12 gauge double barrel shotgun with the serial number 122327 was likely manufactured in 1914. Ithaca Gun Company produced these shotguns from the late 19th century into the early 20th century, and the serial number can help pinpoint its production year within that range. For precise identification, it's always best to consult production records or a firearms expert.