This is just exceptional example of a beautiful pre-war Walther factory engraved presentation PP semi-automatic pistol. This beautiful example is complete with the original green felt lined Walther presentation case, spare magazine with black finger rest extension, cleaning rod and three dummy cartridges. These early prewar cased engraved pistols with a rare finish are a desirable Walther collector's item that would certainly be the center piece of any Walther or German pistol collection. This example has been exquisitely engraved on nearly all of the metal surfaces, in a beautiful vine and scroll pattern with a geometric pattern border around the edges of the slide, trigger guard and frame and then it was given a high polish nickel plated finish. The left side of the matching slide has the standard Walther two-line factory markings that consist of the "Walther" name inside a banner, next to "Waffenfabrik Walther, Zella-Mehlis (Thur)/Walther's Patent Cal 7,65 m/m" next to "Mod. PP", all which has been framed with an engraved border around the markings. It has the early 60 degree safety with the standard fixed front and rear sight. The right side of the slide has the single Crown N commercial proof, which is also found on the chamber area of the frame, and the front end of the barrel. It is fitted with a set of the standard Walther factory black plastic checkered grips that have the Walther Banner at the top of each grip panel. Both magazines are nickel finished with Walther banners on the left side, one with a black plastic grip extension, the other with an engraved flat base. The very unique or interesting aspect of this pistol is that the left side of the barrel is marked with a small arrow point to the word "Nichtrostend" which translates to "Non Rusting" which is the traditional German meaning for "Stainless" steel. This material was used on a very infrequent basis by Walther throughout this period on special order pistols. The original Walther presentation case is made of the dark brown leatherette material with two brass latches on the front and brass hinges on the back. Inside the case it has three compartments for the pistol, brass cleaning rod and spare magazine. Inside the lid it is marked in gold letters, "WALTHER/PP".