Manufactured in 1940, the "480" code Walther P.38s were the first full production run of military P.38 pistols, having benefited from the lessons learned during the "Zero Series" P.38 run. Fixed sights, with the left side of the slide marked "P.38 480", followed by the serial number and the right side has the "eagle/swastika" and "eagle/359" stamps. The "359" proofs are present on several components and matching numbers on the frame, barrel, locking block, both of the ribbed brown grip panels and on the left side of both of the blued magazines (with one also bearing the "+" spare magazine mark). Includes a black leather flap holster marked "dkk/43" on the rear.

Fine, with 75% of the original high polish blue, with bright wear along the high edges, a ding on the front strap, and minor spotting and handling marks overall. The grips are very good, with light cracking at the rear corners of the frame, and minor scuffs and dings overall. Mechanically excellent. The holster is good, with a period replaced belt loop, scuffing and cracking. One will look a long time to find another two matching magazine Walther 480 Code P.38!