Romanian AK's, depending on features, go from $380 to $420 brand new from AIM Surplus and J&G Sales, with chrome-lined barrels, double-stack magazines and threaded muzzles.
Many of the older Romanian AK's only have single stack magazines and welded muzzle nuts, and also lack chrome lining in the barrels. If it's in as rough shape as it sounds, I'd value it at $250 or less. I'm not about to pay $300+ for a used, beat to hell AK when very nice brand new ones can be had for under $400.
On second thought, I'd pass entirely. The finish on these guns is fairly durable. If it's been abused enough to remove most of the finish, chances are it's been shot until the barrel practically glowed and it's effectively ruined. That's the only real way I can see the finish being gone, is if it's burned off. Sounds like someone abused it and used it up, and is now trying to pass it off to you. Just buy a new one. They're not that expensive, and you get a lot of gun for the money.
