The 514 is a good little rifle - picked mine up for $150 at a local Gun/Pawn Shop. They had two - I later went back for the other - it had a different stock - but it was gone.
One thing though - many have worn extractors. I replaced mine and it's been 100% since. Numrich has them fairly cheap, and it takes a couple minutes to swap out.
Mine isn't grooved for a scope - later ones might be. The scope grooves were introduced in '54 or '55. I did put an old Marlin aperture sight on mine. I love peep sights!
The 514 is NOT anything like the rest of the 5-teen series - totally different animal. So, I also have the 512X and the 521T Junior Target rifles. The 512X has a bent barrel, but still shoots tight! I just have to keep the rear sight all the over to one side......