47's are pretty comon as far as knucks go. Looking at your pics the only thing worth anything is the motor, the rest is all chop stuff so I'd say no more than 4-5k
So it's been a while. Just wondering if you managed to get the bike, and if so how did it work out. I agree with Panz. It looks like the classic ride of your Pop's generation and worth preserving. My dad rode a modified Indian back in the 40's. Don't think I could even touch one of those now, price wise.
I think it's time you's take a look at my 1946 knuck Idid it first in 1972 I do need an E-mail address to send these picts Especially you NC47 knucle It might inspire you to get going on this project Your dad must have loved these old bikes