I assume it's a fenceline tree? 55" dbh and 40' to the first branch might get a sawmiller interested. 8' to the first branch, and might have metal in it, not so much.
If you don't burn wood then you could see if anyone on the arboristsite or forestry forum is interested in it. There are portable mills designed to set up on a large trunk like that, maybe someone local has one.
I cut up a pair of 4' diameter fence line ash trees with my 372 and a 3' bar with full skip chain for firewood. It was 10-12' to the first branch and most of that wood was pretty clear, but I did find a bit of wire that was put onto the tree when it was a 6"er 80-90 years ago. One did most of my heating last year and the other is most of my firewood this year, so its kind of worth dealing with a big tree as one round is like 300-400lbs, just don't get hurt doing it.