Colt Mustang .380 Value?


June 4, 2010, 09:21 PM
So a very good friend of mine recently showed me 2 pistols a family friend GAVE him when they moved permanently to Australia. Apparently Sydney is like London, no handguns allowed? Anyway one was a nice High capacity 9mm S&W, the other I fell in love with. A Colt Mustang .380. in about 95% condition. I gave a quick clean to them and went and shot them both as they have been in a safe for 8 years unshot! I then gave them a thorough cleaning inside and out and gave them back. The 9mm is obviously a better home defense gun for him and has a higher capacity. I think I could talk him out of the one I want, but want to give him a fair price. Can anyone give me a rough idea of what its worth? Its not the stainless steel version and it is not the pocketlite. Appreciate your help. Thanks


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June 4, 2010, 11:40 PM
In my Area 95% are going 700-750 range I saw a government model go 900 no box or paper

June 5, 2010, 01:28 AM
Over the last couple of years, I've seen 90% condition Colt Mustangs sell in the $700-800 range.

June 5, 2010, 02:21 AM
Ive seen rarer models (polished nickel) going for $1-1.2k

dont shoot it...if you want to shoot it do yourself a favor and buy the p238 clone. Once you shoot the mustang, youll be in love with it.

June 5, 2010, 03:26 AM
Bought a Colt Mustang back when they 1st came out back in the 80s. Thought it was a good idea at the time, problem was it was a poor quality pistol. Accuracy was dismal, reliability was shaky, especially so with hollow points. The slide to frame fit was very sloppy it rattled like an old Chevy Vega. Traded it off years ago, never missed it one bit.

June 5, 2010, 01:20 PM
I have a Colt Government 380 with Coltguard finish that I picked up a while back from a family member for 300.00 they wanted to get rid of it and I asked them what it was worth to them.. So far it has ran flawless with various types of hard ball ammo and FMJ ammo, colt told me it was manufactured in 1986, I have found fit and finish to be very good.. I have seen these little colts sell recently (when they do pop up for sale) in between 700-850. They are great little guns for the money and fun to shoot!

June 5, 2010, 01:57 PM
They are a jewel of a gun. The locked breech makes them very comfortable to shoot compared to blowback pistols of the same size. I have no idea why Colt stopped making them, but since then the value has climbed so much that I'm thinking of retiring mine to the safe. I want to replace mine with a Sig P238, which is a copy of the Mustang selling for about $500.

June 5, 2010, 07:31 PM
The sig looks like a sig to me? Is the mechanics and size the same?

Also has anyone shot a Colt .380 govt model? I hear thats like a mini 1911 with barrel bushing and all

June 5, 2010, 10:09 PM
I have 2 Mustangs a nickle I use for carry and a mint blue put up I have found the reliable and accurate They are not a target pistol they like a KelTec are a close up Self defense pistol. Only time mine be came unreliable was when I went to the after market metal guide rod .

June 5, 2010, 10:17 PM
I heard about that elsewhere that it seems like a good idea to go to the metal guide rod, but it always seems to cause problems not help.

June 5, 2010, 10:33 PM
The sig looks like a sig to me? Is the mechanics and size the same?

Also has anyone shot a Colt .380 govt model? I hear thats like a mini 1911 with barrel bushing and all
I own one, bought about 20 years, ago, still in excellent condition
it is my favorite CCW
my son-in-law also owns one, also excellent condition bought from at at local gun show about 18 months ago, for $300, from an individual who very obviously did not know what it was worth
it is his favorite CCW

they truly are excellent little shooters, very accurate, point really well, no muzzle flip, soft recoil w/ locked breech 1911 design (no grip safety), very easy IWB carry, ~26 oz loaded, barrel bushing etc yes, single stack slim

so.. I am obviously tempted by the Sig 238, but would be far more tempted if it had an extra inch of barrel like the Colt
(alas the gun makers are obsessed with pocket carry)

June 5, 2010, 10:55 PM
I picked up a 380 govt model last fall as well, and I really like it.

Soft shooting, accurate, and I like the slightly longer grip frame compared to the mustang, plus one more round. Feels just like a baby 1911, although there are some internal differences.

On the down side, the sights are smallish and some parts are getting hard to find...

June 6, 2010, 07:36 AM
Here's a nickel Mustang for which you might expect to pay $1200. But if you can get your hands on any decent Mustang for $600, you will not be disappointed. Beautiful little guns with regard to quality materials, fit and finish.

June 6, 2010, 09:15 AM
I've seen Colt Mustangs go for anywhere from $600 to $800, depending on condition, finish, etc. At those kind of prices, you might be better served by getting a Sig P238.

June 6, 2010, 11:09 AM
As far as i know, P238 and Mustang barrel lengths are the same.

This was purchased off gunbroker for less than $600 shipping included. It has factory night sights.

It is my favorite pocket carry.

June 6, 2010, 02:10 PM
The sig looks like a sig to me? Is the mechanics and size the same?

Yes, same size as the Pocket-Lite, locked breech, aluminum frame, same control lay-out. The basic model without the night sights are going for about $500 on the street.

June 7, 2010, 01:55 AM
SIG bought the rights & tooling for the Mustang from Colt.
SIG made some exterior changes and named it the P238.

June 7, 2010, 09:53 AM
thx for the info guys

June 7, 2010, 10:49 AM
You guys just made me sick since I sold my Electroless Nickle Mustang a couple years ago for $600 :(

Guns and more
June 7, 2010, 10:37 PM
Gunbroker is always a good way to see what things sell for. I see Colt Mustangs selling in the $800 range.
Considering you can buy a new Sig P-238 for $550 with night sights, I'd be had pressed to spring for the Mustang.
At $500 from your friend, I'd grab it.

June 7, 2010, 10:54 PM
The Colt Mustang is a nice little shooter. I've owned one since the 1980s and have pocket carried one quite a bit. I bought a Sig 238 to replace it for carry as the Mustangs were getting a bit pricey.

SIG bought the rights & tooling for the Mustang from Colt.
Not quite. Short version is Colt copied a design from Star (from Spain) and Sig copied from Colt/Star. The patent rights would have expired years ago so Sig owes no royalties. I would also be very surprised if Sig bought any tooling from Colt. Up until the last year or two, Colt had been using old machinery and I can't imagine Sig would want it.

BTW, Sig 238 can use Mustang mags.

Carolina Drifter
November 26, 2010, 11:47 AM
Difference between the P238 and Mustang is the Mustang will keep gaining value.

dogtown tom
November 26, 2010, 12:07 PM
Carolina Drifter Difference between the P238 and Mustang is the Mustang will keep gaining value.


And there is a good reason Colt quit making their .380 Government Models & Mustangs.............they're sorry designs. With plastic guiderods and plastic triggers.:barf:

While they appear to be little 1911's they aren't by a long shot. I have two of the Government models and while they are beautiful pistols they are fragile. I guess Colt thought the public would be happy putting half a box through one and never shooting it again. Lord help those you want to run fifty a month through their gun.

I'm still looking for that guy that bought my Star Super SM........I want it back!

November 26, 2010, 09:06 PM
They CAN be great little guns. I've seen a couple of them and some seem to work great and others have some issues with fit and function. Around here they run from $600
for ratty to $1100-$1200 for LNIB. I have a blued one that I pocket carry once a week (Sunday gun) mine works great even with 135 grain handloads.

If you find a nice one for $500-$600 pick it up and put it in the safe. It'll only grow in value. As for myself I'm looking for a sig to retire my Mustang. I've done some checkering on the front and backstrap of mine, I'm gonna send it out and have the slide cut for mini Novak sites. After that's done it's gonna be hard chromed and retired to range duty.

November 27, 2010, 05:58 AM
I own a couple of Mustangs and a couple of Government .380s. I haven't carried any of them since their value has gone up so much over the past few years. The Government .380 is a fun pistol to shoot and has a longer sight radius than the Mustang. I have had no mechanical problems with any of mine. They are finicky over which ammo they are fed at times, but they aren't alone with that issue.

November 27, 2010, 08:10 AM
With the P238, Sig took a good pistol and made it so-so. Besides the cosmetic differences, which is a personal thing, the main change I can see is the barrel cams down farther on the P238 than the Mustang.

There have been a number of reliability issues with the P238 over the past 18 months. Either Sig has got them fixed or folks have stopped complaining on the forums.

Mustang magazines will work in the Sig--sort of. The high hump on the Mustang's magazine follower causes extraction problems with the P238. Sig is on, at least, the third generation of magazine follower so they have had problems getting it right.

The Sig, at least mine, is hard on recoil springs. If you have a P238, have a spare spring or two on hand. About 500 rounds seems to be the limit. I don't think there is enough room for the spring at full recoil and it gets crunched.

Unlike some, my P238 ran pretty well out of the box but after a time needed a tune up on the extractor. I need to get a replacement extractor or two.

I bought my P238 so that I could retire my Mustang. I am confident enough in the P238 but it is not the quality or reliability I would have expected from Sig.

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