I've cut a couple of Remington 870 barrels that turned out just fine. IMO cutting the barrel ruins resale value anyway. Having the camo coating peel won't hurt value any more.
If you do cut it you'll have to make the cut on one of the vent ribs. Measure carefully so you don't get too short to be legal. Remember, barrel length is from the front of the bolt to the end of the barrel, not the front of the action.
On an 870 I had the option to cut at one rib and have a 21" barrel, or the next rib would have been 19". The next one would have left the barrel at 17" and illegal. I chose the 21" option. My thoughts were to let that be a practice cut. I could always cut once more and be legal if I messed up or didn't like 21". I liked the look, feel, and balance at 21" so I left it there.
Use a new, sharp hacksaw blade and cut as square as possible. Shotgun barrel steel is soft and it cuts easily. I used a file and small square to get the end of the barrel squared up afterward. Then a bit of cold blue on the end of the barrel. I replaced the front sight with one of those that clamp onto a vent rib. Cost was under $20.