"Automatic" Colt pistol - how rare is it?
 

I was asked to "restore" this old pistol from a buddy at church. He's a businessman and knows nothing about weapons, so I've been holding onto it (about a year) until I could find someone who's opinion I could trust; since retirering I've become a member of Professional Soldiers. So, what do you think I should do with this weapon? The rear sight is rounded. It's a long pistol 6" with what appears to be plastic pistol grips.
It still has some original blueing (sp?) on it. The serial number is 7623. The upper/left side has stamped in it, " Browning Patent April 20, 1897 Sep 9, 1902" and "Colts Patent Fire Arms Mfg Co.
Hartford, Conn USA" with the Colt symbol stamped in the very rear of the upper.
The upper right side has stamped in it "Automatic Colt", Calibre 28 Rimless Smokeless".
Pretty cool, eh?
It also came with a real leather holster too which has devorative carvings in the leather of what I would guess is a Yucca plant in a pot (SE American Flair).

I know it's valuable (apparently made during thier 3rd production run in 1912 or Jan 1913), but does anyone know how valuable it actually is? If it's a 500 dollar weapon I can tell my buddy to stick it in a gun case up in his closet. If it's a 5000 dollar weapon I'd tell him to get a gun safe but I don't know the cost of antique weapons - 18E not a B!:confused:

Thanks for the help!
DeMo

Refinishing any antique weapon will seriously degrade its value.

Off the top of my head, it looks like a Colt Sporting Model of 1902, predecessor to the 1911, but I will have to do some research. The caliber is likely .38 ACP, not .28, BTW.

Best place for values is Fjestad's Blue Book or one of the gun auction sites.

TR

yep, as I thought. Colt Sporting 1902, .38 ACP, pic of a NRA Excellent or better below

They can be quite valuable if they haven't been refinished and have all the original parts, which this one appears to be.

You can see what a good one goes for by following the attached link and scrolling down to the first for sale ad.

http://www.neaca.com/Colt%20Collector%20Page%20.html

Yep.

Hard to judge condition with the blurry photos, but I would call it NRA Antique Good to Very Good (based on appearance), little original finish, nice patina. Maybe a 60% piece, depending on the mechanicals? A good coat of oil might help stop the rust.

http://www.coltautos.com/default.asp

About 7,000 were made, all between 1902 and 1907. If you PM me the SN, I will tell you what year it was made.

TR

NO NOT RESTORE...

As TR and RN stated the 1902 colt can run from 5K to .5K,, It's the pictures that tell the store..

If the reddish hue in the pic is patina and not rust, you do not want ot do anything. the earlier blued finishes turned a soft burnt umber over time,, this is good...

The thing to do is find a local X-spert and ask for an insurance appraisal. If you can't find one have him call his home owners insur and talk to the people who handle art & jewelry.

ALso the holster,, may be worth several hundred if you find the right buyer. Old leather by named makers is highly sought.

If you can put the gun & holster & good provenance in one package, you may double the appraisal..

Good points.

Some of the older gun makers have had so many people request info on their guns that they have hired full-time company historians, and handed them the company records. For a small fee, they will research the gun, tell you all of the particulars, to include when it was made, when it was shipped, and who it was originally sold to.

A letter of authenticity from Colt's, with an original 1902 (look for any boxes, packaging, or extra mags) and holster, would add a significant premium to the value of the pistol.

Regardless, it needs to be secured and insured, as it is of significant worth.

If you refinish it, it will lose a lot of its value.

TR

Great information
 

Hey guys,
I'm sorry that it took so long to respond to my own posting but I live in the country (like most of us when we retire) and my internet has been down for days.:rolleyes:
Some great observations, based on my poor pictures. Hey my training ended with wet film (lol).

With my untrained eye, it seems to be in really good shape. The serial number is 7623. I think it's best that I just oil it up and do what with it? What's the best way to store this thing? Is it as simple as a ziplock bag and a plastic gun storage box?

I live in the Pacific NW, do you guys no of anyone reputable I could bring it to for an eval?

I will get some better pics for you guys and take a picture of the holster for you to. That's the least I can do for all your help.
Thanks again.
DeMo
:)

You can call/write this one
 

This is a retired SF friend of mine and now has his own gun shop and deals with 1911s heavily. He lives in the North West not sure where. I trust him. just shoot him him an E-Mail. I'm sure he'd respond. Blitzzz

AndysCustomGuns@aol.com

DO NOT STORE IT IN A ZIPLOC BAG! Go to Brownells and get one of the vapor deposition storage bags. The military has been using the same technology for years (it's part of why we don't have to clean cosmoline off of weapons anymore). There's a commercial version too; unfortunately, I'm at work and don't have access to my references. You've gotten quality advice; I hope your buddy is smart enough to listen when you try to educate him. I would hate to see a valuable piece devalued because the owner didn't understand what he had. Antique firearms are a specialty field I've never gotten into - always figured if you can't (shouldn't) shoot it, why have it.

Same goes for the leather,, don't holster the pistol for storage. The chemicals use to tan leather are corrosive and will damage the metal they come in contact with.

And if your friend won't or can't, call your insurance agent and ask for help with the appraisal.. I am sure Blitzzz's buddy will help,, but a 2nd opinion is gooder...

My $00.0002

There's a place in Burlington,WA called Kesselring's. My Dad-in Law swears by them. Those guys are pretty good.

Chief:

Your pistol was made in late 1904. Happy 104th birthday.

The guys are right, store it in a safe with a dehumidifier, or in a firearm storage bag. Do not leave it in the holster.

Nice piece of history there, and I see no real reason you cannot shoot it, if it checks out with a gunsmith first.

Incidentally, this is not a gunstore sale piece. You will need an auction house that specializes in antique firearms.

Best of luck!

TR

Spoken like the proud owner of a Crayola 64 crayon box. :D

And this year is the 50th anniversary of the Crayola 64 box of crayons! I should have kept that first one!

Great Advice Guys!
 

Wow. Great advice guys, all of it. I didn't know about the new bags available for longterm storage, and the weapon has been in the holster for God knows how long - so that was being done improperly.
I thought that was a great idea about just asking my insurance company what they think it's value is 'cause I don't know if my buddy would actually do that. I will call both of the contacts you've given me for the value of the weapon too. I think I've met Andy, now that you mention him. I fit 's the same guy he helped a fallen brother of mine - SFC Ngyuen from 1st Group- learn how to gunsmith back in the mid 90's. I'll try him first as I think he's closer to where I live. I'll also call the guy in Burlington 'cause two opinions are better than one, eh?
I'll give you guys an update after the holidays on how it all went, okay?
Merry CHRISTmas!
DeMo