50's 20" convertable worth?

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Guy says the badge is missing off the front. Doesn't know a thing about it. Looking for a trade but doesn't know the worth, wants me to make an offer vice telling me what he wants.

I'm think $40, because I don't really need it, but a friend's daughter may like it. What do you all think, is that low-balling? Too high?
 
It's clean thats good. These like said arnt worth a whole lot but if u can get it for about 40 to 80 your doing good. Always hard when folks say make me an offer, cause they might think old bike equals cash
 
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