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It's a .30-30 equivalent (or to be more precise, a .32 Win Special - but that's a distinction without a difference).
You might be able to find occasional runs of .30 Rem brass, and it's a simple neck-up job. I'd search eBay for dies, brass and/or ammo.
If the gun is a bargain, sure, why not? You'd be no worse off than the current owner!
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