This is a very early "three digit" serial number, "480" code Walther P.38 pistol. The "480" code was produced in late 1940 and represented some of the first true military contract pistols, after the "zero series," with only approximately 7,250 produced. This early production P.38 has the high polish blue finish and brown plastic, ribbed grips. The left side of the slide is marked "P.38", "480" followed by the serial number, with the "480" code also present on the left side of the trigger guard bow. The serial number is marked on the slide, frame, barrel lug and locking block. The right side of the slide is stamped with two "eagle/359" Army acceptance marks on either side of a military "eagle/swastika" firing proof. The right side of the barrel lug and locking block, are also stamped with the correct "eagle/359" Waffenamts as well as on the frame, take-down lever, trigger, slide release lever, firing pin cover, and on the side of the hammer. It is complete with an early P.38 magazine with correct double "eagle/359" Waffenamt proofs on the rear and marked "706" on the left.

Very fine with 70% plus of the bright original blue finish still remaining overall with wear on the edges and high spots, sides of the slide, and the front grip strap. The markings are clear and distinct. The grips are very fine showing only minor handling marks. Mechanically excellent. This rare pistol has all matching parts except the magazine as noted. A prime German military pistol for the advanced P.38 pistol collector that is seldom encountered in this extremely fine condition.