Id and price of new gun

[Nozler]

My father just accquired this new pistol:

Small, black
Colt mfg markings
Marked "Calibre 32 rimless smokeless"
Patented dates 1897 and 1903
euro style mag release
solid metal single stack mag, flat follower
Internal hammer
frame mount safety

My questions:

How in the hell do you disassemble this thing, it doesn't have any visable way of releasing the slide?
Am I correct in assuming it is a Colt 1903 pocket pistol?
How much is it worth with if we fix the finish?

 

[Walt Sherrill]

Buying old guns is like buying old cars: you've really got to know what you're doing, to avoid being burned.

If, in fact, its a 1903 Colt, and the finish is bad, it might be worth as much as $250 - $300, if you're lucky.

This type of gun is of value mostly to a collector, and refinishing it will absolutely destroy any remaining collector's value. Collectors like pristine guns, in as new condition. Refinishing always damages the gun, unless its done by a "restorer," and even then collectors aren't usually interested.

The following is from the Fjestad Blue Book of gun values:

In "as new" condition, its worth $500-$600; with some premium for the earliest models; a Type I, in very good condition -- 98% of original finish -- will be worth up to $1000.

Value drops drastically below 98%, and since you've mentioned refinishing, its probably far below that. (A 90% gun is worth $300, and 90% is VERY NICE. A 60% gun is worth $200 +/-.)

Type I serial numbers 1-71,999.
Type II serial numbers 72,000 - 105,000
Type III serial numbers 105,051 - 468,096
Type IV serial numbers 468,097 - 554,446.

Types I and II have barrel bushings; Types III and IV don't;
Type IVs have a magazine safety.

The 1903 is a solid, smooth, easy to shoot .32. You have a potentially good concealed carry weapon, if you're comfortable with the .32 acp round.

Have a competent gunsmith check it out for safety and function, and then just shoot it.

 

[Nozler]

only paid $50, and yes due to the cost we had it checked, it came back clean. It was never used in a crime or stolen.