From April 1945 production, the final month of World War II P.38 production at Walther, with the factory captured within the first week and the "c" block of "ac 45" code P.38 production never being completed. Features fixed blade front and notch rear sights, "ac 45" production code on the left side of slide with "eagle/swastika" and "eagle/359" proofs on the right, along with additional "eagle/359" proofs present on the frame, and locking block, with an "eagle/WaA16" proof on the "fnh" code barrel. Also features phosphate finished parts to include the magazine release, trigger, slide catch, extractor, and firing pin cover, in contrast with the other blued components, which such 'two-tone' configurations being a not so uncommon hallmark of late Walther production as pistols were assembled from whatever components were on hand by that point. Matching serial numbers found on the barrel, slide, and on the locking block. Fitted with a pair of ribbed Bakelite grips and blued "eagle/359" proofed and "P.38 v/U" marked magazine with un-numbered base. Includes a "jwa/41" code and "P.38" marked black leather flap holster.

Excellent as a very late World War II Walther produced P.38, retaining 97% plus original blue and phosphate finishes with some minor edge wear, plum coloration on the frame, some minor thinning on the grip strap revealing mostly grey patina, and otherwise limited minor handling marks. The grips are very fine with minor handling wear and a hairline crack in the back of the right panel. The holster is very fine with supple leather. It would be very difficult to improve upon a Walther "ac 45" code "c" production block P.38 pistol such as this example.