If the can is constructed, and has a lid like in the picture you posted, it is a WW2 Marine Corps gasoline or water can made in 1942, '43, or '44.
The value is pretty much up to what the purchaser wants to give. The market has wide fluctuations dependent upon many factors.
$5.00-$50.00 with the upper end for someone that is not planning on resale. Others may disagree and are free to state their opinions of value.
The small plate is covering up the USMC
My guess is that it was a demil requirement from the past of removing the National emblem and Service branch before being sold as surplus material.
No different than the common art of spray painting over the Stars, Service branch, hood numbers, etc of vehicles before they are surplussed.
Here are two examples.
The first is a USMC
can that has had the plate removed, and the second is a can that has a USN
embossment hiding behind it.
I also have a USA
can with the plate still in place, but I do not have a picture of it.