Lee Reynolds 48 x 60 Large Abstract Painting

I have a large stretched canvas that I bought at an estate sale. I am an artist that doesn't have a lot of money (comes with the territory) and would like to reuse the canvas ... aka "over painting" ... Does anyone here think I should do otherwise? If for instance it was worth more than $200 (the price of a new canvas of this size) I would reconsider?

Thanks