I'm assuming these are Colt's 1911s... though that is mostly a matter of relative value.
If you put these guns up at auction I think you will be surprised at how much an old 1911 will bring... my guess is you will wind up with enough money to buy a nice shiny new S&W 1911 (great features and qualtiy at a fair price) and enough left over to take your family on a vacation. About 18 mo ago, I sold an average conditon WWII era Ithaca 1911 for $890... I'd expect you could rather better for your WW I ear Colt's.
I's sell them off and buy a nice modern gun that meets your needs... you will be happy and a collector will be happy as well.
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