So I took the rug down to a local dealer yesterday. It is a Bijar rug which is a city in Iran. These (Bijar) rugs were hand made in India with all natural dyes. This particular style with the medallion in the middle were made from the early 70's to the mid 90's and the approximate value, this size, is from $1,800 to $2,400. The guy was really nice and never offered to buy it. He said I should keep it for myself because everyone should have a nice rug in their house.
Thanks for the help guys!