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Discussion Starter · #1 ·
Hey all,
I'm a newbie on the forum. I acquired a Colt Ace 22 LR from a friend of mine who found it in his mom's garage when she past away. He wanted nothing to do with any firearms so he gave it to me. It's in pretty rough shape (pretty heavy pitting), but it looks to be from 1937 from what I can gather. It also doesn't have a magazine. I am trying to figure out what to do with it. What is it worth? Is it worth selling? Would getting it restored only lesson its value? Should I just get it functioning and add it to my collection of guns to bring to the range?

I have included some pictures to give you an idea of it's shape. I know I asked a lot of questions, but any input/ideas/thoughts would be greatly appreciated. If there are other pictures that would be helpful let me know and I can take more if needed. Thanks in advance!
 

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Put some good quality gun oil on it. Condition isn't that bad.
Me I'd get a magazine and shoot it, even in this condition it still has collector value as a shooter.
You might find a magazine on eBay, but you need an ACE magazine not a Service Model ACE or Conversion Unit magazine.
 

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Welcome to the Forum,
I agree with the above,
It's not in bad shape. Some oil will do wonders for it. Leave it as is. Locating a magazine will be a bit of a challenge and will be expensive, but I would shoot it and hang onto it.
Edit to add:
Here's a link to a eBay auction for a Colt magazine for the pistol. This is the only one listed and as I said previously, any that you find will be expensive.
 

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Discussion Starter · #4 ·
Put some good quality gun oil on it. Condition isn't that bad.
Me I'd get a magazine and shoot it, even in this condition it still has collector value as a shooter.
You might find a magazine on eBay, but you need an ACE magazine not a Service Model ACE or Conversion Unit magazine.
Thanks for the reply. I'm leaning towards keeping it and shooting it at the range myself. But I bought this magazine for it and it doesn't seem to work. It seems to get hung up on something when the magazine is about 90% of the way in. I know you mentioned to make sure that it's not a service model magazine. Is there something else specific I should be looking for.
 

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Discussion Starter · #5 ·
Welcome to the Forum,
I agree with the above,
It's not in bad shape. Some oil will do wonders for it. Leave it as is. Locating a magazine will be a bit of a challenge and will be expensive, but I would shoot it and hang onto it.
Edit to add:
Here's a link to a eBay auction for a Colt magazine for the pistol. This is the only one listed and as I said previously, any that you find will be expensive.
Hey Robert,
Thanks for the reply. Are there any 3rd party manufacturers that you know of that make magazines that work? I'm not sure I'm willing to pay $300 for a magazine (I can buy a lot of ammo with that kind of money...lol). I just posted a response of the one I bought and it doesn't seem to work.
 

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Thats a magazine for a Service Model Ace or a Colt .22 Conversion Unit. It won't fit or work in your pistol. You need a "ACE" magazine. See my link above. At the very least it will show you what you need to find. I'm not aware of any aftermarket magazines that will work in your pistol.
 

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Discussion Starter · #7 ·
Thats a magazine for a Service Model Ace or a Colt .22 Conversion Unit. It won't fit or work in your pistol. You need a "ACE" magazine. See my link above. At the very least it will show you what you need to find. I'm not aware of any aftermarket magazines that will work in your pistol.
So, dumb question...Service Model Ace = .22 conversion unit?
 

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Your pictured magazine will work in both. Colt produced a "Service Model Ace" pistol, and your "Ace". They are different in the fact that the Service Model Ace pistols have a floating chamber to simulate the recoil of a .45ACP pistol. The Colt .22 Conversion Units also have the floating chamber and therfore your pictured magazine will work in both. Your "Ace" is a completely different pistol with a model specific magazine.
 

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Discussion Starter · #10 ·
Your pictured magazine will work in both. Colt produced a "Service Model Ace" pistol, and your "Ace". They are different in the fact that the Service Model Ace pistols have a floating chamber to simulate the recoil of a .45ACP pistol. The Colt .22 Conversion Units also have the floating chamber and therfore your pictured magazine will work in both. Your "Ace" is a completely different pistol with a model specific magazine.
Got it! Thank you so much for taking the time and explaining all of that. Your knowledge is very much appreciated. On that note, it looks like I've got 2 magazines that I need to sell!
 

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Discussion Starter · #13 ·
I purchased one in much better condition at a local gun shop about two years ago for $2000 and it had the correct magazine in it. I would value yours in the $1500+ range. Still a great gift!!
Thanks! That’s good to know as reference. I guess I should take it into a gunsmith to see how much it would cost to get it usable.
 

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No - 'you' canfigure this one out, if you pay attention to what we tell you.

First - remove the grips.

Next - disaaemble as per many 'youtube' videos, if someone here doesn't step in to guide you.

Now - get a 'good' quality oil like 'BreakFree' or Kroil and soak the metal and let it sit - after a few days, wipe with a soft cloth and be amazed at what you've brought to the surface.

Repeat...

Meanwhile - search out the correct magazine - it'll be 'right', and it'll pay dividends.

The piece is in decent shape - cleaning it properly will help it immensely.

As to your friend - don't mention the value you've heard - but maybe buy him a 'nice' bottle or two, because he's a friend - then, let him shoot it, and see how much pleasure you get from it.
 

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Discussion Starter · #15 ·
No - 'you' canfigure this one out, if you pay attention to what we tell you.

First - remove the grips.

Next - disaaemble as per many 'youtube' videos, if someone here doesn't step in to guide you.

Now - get a 'good' quality oil like 'BreakFree' or Kroil and soak the metal and let it sit - after a few days, wipe with a soft cloth and be amazed at what you've brought to the surface.

Repeat...

Meanwhile - search out the correct magazine - it'll be 'right', and it'll pay dividends.

The piece is in decent shape - cleaning it properly will help it immensely.

As to your friend - don't mention the value you've heard - but maybe buy him a 'nice' bottle or two, because he's a friend - then, let him shoot it, and see how much pleasure you get from it.
Thank you! Ill start the disassembly tonight. I was able to clean it with some oil and it does look better already. I'll follow your advise and let it sock for a few days. Thanks for the support. I'll get this thing in top shape with help from everyone on this forum! I actually just got back from the range and it shoots fine when loading rounds individually. Now I'll be on a quest for a magazine. Are there after market options or am I best off just trying to find OEM magazines and paying the premium?

As for my friend, I already offered to throw him some money and he refused. He wanted nothing to do with it. But I'll be meeting him in Vegas (if it's open) and I'll certainly have to pay for a few days/nights out.
 

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Thanks for the reply. I'm leaning towards keeping it and shooting it at the range myself. But I bought this magazine for it and it doesn't seem to work. It seems to get hung up on something when the magazine is about 90% of the way in. I know you mentioned to make sure that it's not a service model magazine. Is there something else specific I should be looking for.
Josh1977,

Welcome to the Forum !

Some believe the COLT ACE magazine and the COLT Service Model ACE magazine are interchangeable (any version of mag will work in any version of Pistol),---some believe they Are NOT Interchangeable (or at least not had any luck with interchangeability).

Check here for an explanation and pictures: Colt Ace .22 LR Pistol Factory Magazines - Coltautos.com (Study the features/differences between the magazines,...some believe You Want a COLT ACE mag.)

(BTW, the ebay link in post # 3 shows the 1st version [rare] of a Service Model ACE magazine.)

Best Regards,

P.S. Here's some old (on file) pictures. The 1st, those rare early S.M. ACE mags. The 2nd and 3rd, four versions of S.M. ACE mags and one ACE mag.

697820


697821

697822
 

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Discussion Starter · #17 ·
Josh1977,

Welcome to the Forum !

Some believe the COLT ACE magazine and the COLT Service Model ACE magazine are interchangeable (any version of mag will work in any version of Pistol),---some believe they Are NOT Interchangeable (or at least not had any luck with interchangeability).

Check here for an explanation and pictures: Colt Ace .22 LR Pistol Factory Magazines - Coltautos.com (Study the features/differences between the magazines,...some believe You Want a COLT ACE mag.)

(BTW, the ebay link in post # 3 shows the 1st version [rare] of a Service Model ACE magazine.

Best Regards,

P.S. Here's some old (on file) pictures. The 1st, those rare early S.M. ACE mags. The 2nd and 3rd, four versions of S.M. ACE mags and one ACE mag.

View attachment 697820

View attachment 697821
View attachment 697822
Thanks for all this info. Finding a magazine is a bit more confusing that I figured it would be. There seems like there are so many small variations in the mags. I already purchased the wrong ones once. I'm still not sure I'd be able to confidently purchase the correct mag even with all the information that you provided.
 

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You got the good one, as Aces go. The original Ace is a quality, refined arm. I've heard the Service Model Ace mags work in them. Do some research and you'll find out. I have one in 99% condition with both an Ace, and Service Ace mag. The Serv Ace mag clicks in place fine, but don't want to shoot it, it's too clean. Yours I'd oil it and shoot it a few times a year, you may be surprised at it's accuracy. Wipe your fingerprints off after every time it's touched or handled, and it will survive in that condition another 50 years.
 

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Discussion Starter · #20 ·
Hey all,
I'm actually leaning towards selling it at this point. I'm not a collector and really have no interest in becoming one. I just enjoy shooting and would rather put money towards a new gun to have fun with at the range. I think someone else would appreciate this gun more than me. I guess I can't post it for sale on coltforums since I'm a newbie and I don't have 50 posts. A few of you have given your thoughts on the worth of the gun and I really appreciate the input. That being said, I wanted to get some opinions on its actual worth and get an idea of what people would be willing to pay for it. I've got it field stripped at this point and have removed the grips. Let me know what other pictures that people would like to see to better gauge it's condition.
 
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