Still worth a ball of money, but... OH NO! Any refinishing work to a vintage guitar will devalue it. By how much, isn't known. It is only worth what someone will pay for it anyways.
If it was your fathers guitar, keep it, treasure it, and most of all... Play it. I have a '66 Strat, all original, and have been playing it live for at least 15 years. Sure, it's dinged up, missing paint in certain areas, and rusty, but it's my favorite and would never sell it, regardless of price.
Please remember, this is only MY opinion.