The Walther P.38 occupies a pivotal place in 20th-century small arms history, and examples with factory experiments or survival condition like this one are of particular interest to serious collectors and museums. Early production variants, acceptance stamps, and unique machining details tell a story that factory records alone cannot.

WALTHER Early AC41 P.38 with Rare Open Sear

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Historic significance and the open sear experiment

This first variation AC41 code P.38 is notable for the extremely rare open sear experiment documented by Warren H. Buxton (see referenced plates and figures). The open sear, a nonstandard mill-and-fit component rather than stamped, appears on only about a dozen known examples; its presence directly impacts collectibility more than functional value. Serial number 3124a, circa February 1941, places this pistol early in AC41 production when small engineering trials were still being evaluated.

Condition, markings, and mechanical details

The pistol retains approximately 98% of its original bright blue finish and an excellent bore with bright, strong rifling—attributes that are critical for both display and long-term preservation. Slide markings include P.38 and AC over 41 with the serial; right-side eagle firing proof and dual eagle/359 Waffenamt stamps are present. Internal parts show matching serials and acceptance stamps on the trigger, open sear, barrel lump and decocker. The left frame and trigger guard carry serials and an eagle/359 mark; the trigger bow front is stamped “ac.” The right grip panel has a special relief cut to clear the open sear. The numbered but mismatched magazine (4965a vs 3124a) bears an eagle/359 stamp and P.38 marking. Action functions correctly—an important point for collectors evaluating preservation versus restoration.

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Collector guidance and value drivers

Rarity drivers here are clear: experimental open sear, AC41 code survivorship (many were lost on the Eastern Front), and the exceptionally high percentage of original finish. At the listed price of $4,250.99 and located in Dallas, this pistol is aimed at advanced collectors who prioritize documented rarity and original condition. When evaluating acquisition, confirm provenance, matching internal numbers, and acceptance marks—these are present on this example and elevate its standing.

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