Value of a Mauser

It is the bullet weight/style and perhaps the powder charge in grams.
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Again, I lost all my data and am not real versed in it having just learned it a little while ago. I have been trying to see where I got the data from but no luck yet......

By the sound of it yours is from after 1920 (not having the proofs). It has the Crown and B on the receiver and bolt to keep the pair matched perhaps?
 
The Mauser marking on the butt plate may mean you have the real deal; a genuine Oberndorf Mauser sporter. Try a web search for them and see what comes up. They were made in several styles and are considered good quality rifles.
 
The St.M.G. stands for Stahlmantel Geschoss. Translated that means steel jacketed bullet. I have an earlier J.P. Sauer on an Oberndorf action that has 2.5g GBR under the St.M.G. That stood for 2.5 grams GBR (flake rifle powder). I would expect yours is the charge weight of the powder used for proofing at the time.
 
What exactly Signifies the proofs?

The gun has a U with a crown over top and then a b below it with a crown over top is this not the proof marks?

It has the b and u with crowns on the bolt handle and has the serial number on the receiver ring, barrel, bolt handle and on top of the saftey lever

I took some more photos here so you can see what I am talking about

http://s709.photobucket.com/albums/ww97/g-wagen/Mauser 2/
 
gwagen: the crown/b and crown/u are the proof marks generally used prior to 1939. Later rifles are found with the crown/N to indicate nitro proof. This latter denotes the use of the powders that became available about then and were used for proofing. I don't know if there is any practical difference in the proofs just a contemporary change. You've got a nice rifle there and well worth keeping in use and doing a careful bit of restoration to. Finding an original rear sight and removing the replacement and solder(??) filler would be a good start. It was likely changed either because of loss or because available ammunition didn't suit the original sight as far as regulation on target. The original sight may have been filed in to adjustment for a bullet weight and load that wasn't available here or didn't suit the use the owner had for the rifle. With all the options available for handloading (and from factory) today it is not hard to find a load that suits the sight.
 
The crown with a U under it was the German defintive proof mark 1891-1939. The crown with a B under it was the mark for German proof using Mauser M-71 powder from 1891 on.
 
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