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Discussion Starter #1
Hello everybody, I am fairly new to the forum and have been inpressed by the wealth of knowledge on this forum. I have a question regarding a New Police Positive .32 at a local gun shop that I recently came across. Serial number is 3338 which I believe makes it a pre-1900 pistol. They offered me $330 on the pistol. It is probably 60% finish and condition. Trying to decide if this is a good buy/find. Also found a 1932 Bankers Special ~55-60% finish and condition. Offered $450, but buyer wouldn't take less than $600. Seems high on both pistols to me. Any opinions would be appreciated.Thanks
 

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Docjpo1980
First I'd like to welcome you to the forum.
I'm not a collector & it's just a guess, but I think the price on the Police Positive .32 is not a bad price. I think what he is asking for the Bankers Special at $600 is kind of high. Again just a guess.
Frank
 

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$600 is a good deal for a real Bankers Special if it is mechanically sound. These continue to increase in value as they are not really all that common.
 

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$600 is a good deal for a real Bankers Special if it is mechanically sound. These continue to increase in value as they are not really all that common.
I highlighted real on Twait's comment. Recently there have been some advertised Bankers Specials that were NOT the real deal. Rebarreled jobs asking out of orbit prices. Do your homework on them to spot a rebarrel versus an original. $600 for a BS in decent condition and mechanically sound is a good price. My .02 worth :)
 

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Discussion Starter #5
I highlighted real on Twait's comment. Recently there have been some advertised Bankers Specials that were NOT the real deal. Rebarreled jobs asking out of orbit prices. Do your homework on them to spot a rebarrel versus an original. $600 for a BS in decent condition and mechanically sound is a good price. My .02 worth :)
Thanks for the heads up on the re-barreling. Sometimes its hard to identify all of the little changes that can affect the value and originality of an old gun. Any thoughts on the pre-1900 New Police model I mentioned in the original thread?
 

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I have a soft spot for the PP's 1st issue only. I have three..One in .38 S&W my first gun my Dad gave me @ 14, issued in 1912, in 98% I have another 98% .32 from 1912, and another Nickled 1st issue .32 also 98%. The collectors all turn their noses up at PP's, but I think that as time moves forward, and the Pythons and Anacondas move up, the other models will likely trail behind in a percentage increase.

I liken it to Cadillacs. The best convertible models will bring top dollar, but then the others will trail behind increasing in value as well. It's all a percentage game. I don't think one can ever go wrong buying Colts..Afterall, what better gun is made and whose history is better?
 

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Discussion Starter #9
I have a soft spot for the PP's 1st issue only. I have three..One in .38 S&W my first gun my Dad gave me @ 14, issued in 1912, in 98% I have another 98% .32 from 1912, and another Nickled 1st issue .32 also 98%. The collectors all turn their noses up at PP's, but I think that as time moves forward, and the Pythons and Anacondas move up, the other models will likely trail behind in a percentage increase. I liken it to Cadillacs. The best convertible models will bring top dollar, but then the others will trail behind increasing in value as well. It's all a percentage game. I don't think one can ever go wrong buying Colts..Afterall, what better gun is made and whose history is better?
I'm inclined to agree with you. I recently purchased a 1921 PP .38 about 85%. I am not a real big collector of the PP's but its always hard to pass on a find once in a while. As you said, you can never go wrong with a Colt, and I say you can never have to many. I will try to post a few pics of my PP later.
 

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Me too. I rather think since the "regular collectors" are busy with Pythons and Anacondas, if we stick with good examples of models that are of fine quality, one can't go wrong. So there were milllions of PP's made, how many in the first issues are of good quality? The first issues are now fast becomming "centarians" and who knows where 100 year old Colts are going? Anyone who says they do know are likely ..............well you know. I am a bottom feeder............
 

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Discussion Starter #11
Thanks for the heads up on the re-barreling. Sometimes its hard to identify all of the little changes that can affect the value and originality of an old gun. Any thoughts on the pre-1900 New Police model I mentioned in the original thread?
Well I went ahead and bought the Bankers Special I was looking at. Ended up paying $575. When I re-inspected the pistol I noticed something I had missed previously, a serial number stamped on the butt. I am going to contact Colt and see if I can get more info. on the history of the gun. The shop told me they bought it from an older gentleman who said it was issued to a Secret Service agent. Not sure about that though. I have been having trouble posting pics from my ipad, any recommendations on that?
 

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What are the exact markings on the butt? Anything on the backstrap?
 

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Discussion Starter #13 (Edited)
What are the exact markings on the butt? Anything on the backstrap?
Sorry for the delay in response. The stamp reads No 12054. No other numbers or markings present on the backstrap or under the grips. Small stamped insignia GWA on the side of the trigger guard. I have read that the GWA stamp could represent a government inspection stamp. The format is gWa, W representing possibly a last name.
 

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Discussion Starter #15
Thanks Charles, neat info on that thread. Seems that my pistol is most likely a RPO. My serial number dates it around 1931 issue, which would fit with the info I read. The stamped issue number matches closely as well. I will probably order a letter from Colt to authenticate the info. One thing I love about old Colts is the history. This is what makes it fun hunting and collecting these historic american made guns. Nothing like owning a piece of history.
 

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Thanks Charles, neat info on that thread. Seems that my pistol is most likely a RPO. My serial number dates it around 1931 issue, which would fit with the info I read. The stamped issue number matches closely as well. I will probably order a letter from Colt to authenticate the info. One thing I love about old Colts is the history. This is what makes it fun hunting and collecting these historic american made guns. Nothing like owning a piece of history.
If your gun letters as an RMS PO Banker's Special you will have got it cheaply even with the finish loss. Most of these guns were turned in and destroyed. Please forgive me for saying, as you probably know, but don't even think of having it refinished.
Let me extend to you somewhat premature congratulations.
 

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Discussion Starter #17
If your gun letters as an RMS PO Banker's Special you will have got it cheaply even with the finish loss. Most of these guns were turned in and destroyed. Please forgive me for saying, as you probably know, but don't even think of having it refinished. Let me extend to you somewhat premature congratulations.
Thanks, I hope the letter ends up being good news. I will update once I find out the details from Colt.
 

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Discussion Starter #19 (Edited)
Finally able to get a few pics taken of this Banker special, in the middle of multiple day cleaning process, so pics are still crude, threw a little extra pic in there of my other weekend find. 1921 PP .38, 85-90% nickel. Nice little find.
 

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You did real well on that Bankers Special. There have been a couple members here recently now that have gotten really good deals on these. Maybe its my turn! :)
 
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