Howdy Copper,
It's stainless steel most likely (Ruger didn't chrome them). As for value, somewhere between $500 and $800 looking at ones that actually sold on Gun Broker. The length is rare, but most cowboy action shooters want the shorter barrels (and I figure they made up a good portion of the buyers in the past.) Anyone looking to use it as a shooter will probably need to get the cylinder reamed as mentioned above; so one needs to add in an additional cost for a gunsmith (I'm not sure Ruger supports repair work on them any more; seems I've heard something about that recently.)