When my grandfather passed away I took his old Remington Model 11. It is worn pretty bad and has a cracked forearm. I has some mechanical issues that I will need to take to a gunsmith for fixing. My question is what should/could I do to preserve its condition and maintain any collector value it may have. Or on the other hand, if it is worth doing anything besides fixing the current issues. I really don't know what my options are at this point.

The Model 11 is not really a collector in any condition (other than perhaps "new"), however your gun certainly is a "keeper" with sentimental value and can be reconditioned to be a good shooter. Little you do to it will decrease its monetary value, so do whatever it needs to put it in good shooting condition and whatever suits you in terms of cosmetics.

Put yourself in your Grandfather' place and ask what you would want your grandson to do with an old, worn gun of yours. I think the answer is you would want him to use it in whatever way makes your granson happy, and hopefully preserve it for your greatgrandchildren.

looked at one last saturday for a friend that had been taken apart and stored in a box in the garage, he wanted to know what it was worth,, 75-80 dollars due to rust and broken parts. but senemental value we are going to send it to a gunsmith and pull a favor to have him restore it. wish I had some of my granfathers guns that were traded off in my youth..