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Is this high peripheral?
The relays are really heavy.Should I remove them?
Do relays increase or decrease value for grading purposes?
Nothing on the bottom.

Relays vary a bit. They have plastic, steel, copper, maybe brass and usually something more exotic on the contact points. The contacts would be the thing that makes them worth a little more or less. Overall they probably lower the value of this board a bit but I would leave them on as I think you can get high peripheral still.

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Here to learn more so I can recycle more
My grades are my own opinion and not an official grade from Boardsort

That is an above average relay. Made by SCHRACK. The SR6 series. They even are selling used on ebay. My comment here is focused on escrapping. Those contacts are a form of silver. Silver tin/silver oxide. It is a silver contact. Here is what I would do. A bit of mangling. First remove the plastic from the relay. Next. Cut out the relay coil.[copper]. Just leave the contacts on the board. So. You are removing weight. Junk. But leaving the cream [silver] for evaluation on the board. I would feel absolutely confident at High Peripheral. Even so. My suggestion. Has to be weighed against T=M. Time = Money. If I had 1000 of your boards pictured. Should I spend my time cleaning up the relays? Me personally. I have the time. Other scrappers. Don't.
Here to learn like everybody else.