WVsig said:
OP did not ask fro strictly Colts he asked for 1911 made before the 1991. So yes they are not "Colts" but they are in line with what the OP is asking for.
I understand exactly what he asked. I just want to be certain that he (and other readers) aren't mislead into thinking that a Sistema is a Colt. Like you, many people refer to them as "Sistema Colts," but they are not Colts. Colt didn't build them, Colt didn't sell them. They were built in Argentina, By an Argentinean factory and by Argentinean workers, for use by the Argentinean military or police.
The confusion arises from the rollmark on the right side, where it says (as in the photo of your pistol) "SIST. COLT CAL. 11.25mm. MOD. 1927". That's not a reference to the maker, that's the identification of the caliber. It means it's chambered for the Automatic Colt Pistol ("Sistema Colt," or "Colt System") 11.25mm (.45 caliber).
Of course, properly they also aren't "Sistemas," they are FMAPs. But everyone calls them Sistemas (except those who call them Colts).
Show me another 1911A1 built the old school way in the same price range of $500 that will appreciate. Yes they were better deals when they were $100-$250 but they are still not bad if you take your time and pick out a decent gun.
I very much doubt that you'll find a Sistema with even 75% finish for $500 these days. $500 might buy you a beater of a truck gun with maybe 10% to 20% finish remaining -- or less.
Here's a decent one on Gunbroker, that doesn't have original sights. Shop wants $674 for it (no bidders).
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=555520056
Here's another nice one, appears all original, asking price $900.
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=555829764
And another, same shop as above, aftermarket sights and grips, also asking $900.
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=555839177