I thought shells from 69 were clear not painted black.

Yes interior should be clear maple, it has been painted. Also wrap is faded, (which most every mod orange set is) all the white streaks were originally purple/pink. I would offer in the $200 ballpark.

The interior of the shell isn't black as it looks in the pictures. To me, it looks like grey granitone paint. I did a little research and read that Ludwig started using this paint around 1970. So I am thinking that the interior paint is correct, no?

http://www.ludwig-drums.com/woodshellguide.php

I am pretty sure only the Standard series drums had granitone interiors that early, the Classic line didn't start using it until late 71 early 72. From the looks of it, it looks like someone covered the date stamp with a strip of tape before painting it.

The paint doesn't look like "granitone", the interior should be maple.

Granitone came along a bit later.

1969 bass drums with a rail are pretty scarce, though it's too bad the drum is super faded. 200-250 would be a good deal I think.

Great looking drum..

Not my area of knowledge,,...however

Could it be that this was a standard series drum...

With the hardware, (lugs,Spurs re & re with the better hardware)..?

Badges can be removed and installed...just wondering...?

Finding the rest will be a challenge.. I'd pass on it, that is unless you've got the patience to possibly wait years for the other two drums to emerge..

I'd offer him $150 and call it a day.

You couldn't get Mod Orange in the Standard line...nor could you get that particular wrap to recover a Standard shell. But if you did replace all the hardware on a Standard shell you'd have the equivalent of a Classic anyhow since they used the same shells.