[Ky Larry]

Got a call last week from a friend whose husband recently passed away. She said she had a pistol she wanted to get rid of. I asked what was stamped on the gun. She said she didn't have her glasses on but it had a picture of a horse on it. I said I'll be right over. To make a long story short, it is a Colt Police Positive .38 Special. The serial # is 466XXX with a large letter E stamped under the serial #. The grips are curved and the frame is exposed between the grips. The grips have silver Colt medallians and are checkered walnut. Barrel is 4 inches and sights are fixed. It has a little wear around the muzzle and the front of the cylinder but is in excellent shape. There is no rust. Bore is bright as a new dime. The gun is very tight and lockup is like the cylinder is welded to the frame.The ejector rod has no shroud.
I posted a request on the Colt Forum and was told the gun was made in 1938. Can someone give me an approximate price on this gun? Thanks.

[Majic]

That is a 2nd issue PPS. I've seen prices from $300 to $600 in conditions you have listed. The earlier models had smooth stocks and brought the higher prices. Later 2nd issues had checkered stocks and $350 to $450 would be a good price. Sometimes pricing for old Colt's make no sense, but you can count on it to be high. The market can be funny sometimes.

[Dr.Rob]

According to my book its a 1939 gun.

$350-400 would be out of line, maybe a little more. Take a look for similar Colts over at Gunsamerica.. see what the askking prices are.

[Majic]

GunsAmerica have alot of inflated prices too. Majority of the wining bids on the auction sites are lower than prices listed on GA. It will give you an indication of the market though.