A friend said he has a Ruger #1 California Highway Patrol comemrative in either .22 Hornet or .218 Bee. It is still in the box and has never been fired. He offered it to me for $500 but I told him we need to see what it is worth first. He bought it about 20 years ago and put it away and It has been so long since he has touched it that he can't even remember what caliber it is. Any ideas what this rifle might be worth?

It is certainly worth that, the No.1A in the Hornet would bring $900 to $1200 depending on condition....

I agree with Ray. You can't even touch a used No.1 (you pick the letter) in a common caliber for much less than $500. At the very least you could get a NIB box price.