I take it your referring to either the poster on the left by Philip R. Goodwin. Or the one on the right by H.G. Edwards. Encountering a bear on a mountain was a common trope used by artists of the period. You’ll see Remington and other manufacturers posters just like these.

If it has been framed, it likely maybe hard to tell, but if it can be taken out of the frame to be closely looked at might would help. I have no idea what an original 1920s lithograph poster of either one of these goes for at auction. 

My guess is that your friend likely has a modern print. A very old original of the period lithograph would be somewhat valuable. Even more valuable are the original paintings done by the artist’s hand of which is the source for the making of the lithograph poster. 

Sincerely,

Maverick

Every time I see these old ammunition ads, I can’t help but be reminded of this spoof of them:

BRP

jerry thomas said
Can anybody out there give me some idea of the value if in fact it is a old poster  

There are a couple of website services that keep track of auction results. But you’ll have to pay their ransom to see what the value of a piece of artwork is worth.

https://www.mutualart.com/Artwork/Dangerous-Sport/2270C374824D64697AE2CD73CBD7437B/Similar

Here’s one that tracks the original oil on canvas works. I couldn’t find that specific piece done by Goodwin, but they may have reference to it somewhere. 

https://www.mutualart.com/Artist/Philip-R–Goodwin/9E6CE75282D187F6#:~:text=Since%202002%20the%20record%20price,Philip%20R.

The overview above briefly discusses some general values, but like I said this is for original work. Not period mass produced posters. 

https://cdaartauction.com/consignresults/artists/philip-r-goodwin/

The website above shows their past auction results for various originals sold in the five to six figure range. 

I wouldn’t ever imagine that “Period Made Posters” don’t go anywhere near what the originals go for.

I guess this is about the equivalent to owning a genuine Winchester 1 of 1000, verses owning a Uberti made 1of1000. There is a wide chasm between the two. 

Sincerely,

Maverick