This is a late WWII or early post war assembled P38 using an early zero-series frame with the late war (ac) marked slide and early commercial barrel. Based on the late wartime demands on the German Army, the Walther factory started substituting early left over production parts into the military contract pistols. This example is a blend of the early commercial frame and barrel with a late war slide. The early frame is correctly marked on the right side with only the serial number (026120) while the slide is a correct military model that is stamped on the left side "P. 38/ac-45" however it is numbered on the right front rail in the zero-series commercial manner. The slide does have a single "Eagle/359" Waffenamt proof, along with a eagle firing proof, but does not have the second "Eagle/359" acceptance proof. The barrel is also numbered on the front lug in the commercial manner with the serial number (26120) with no acceptance proofs. Fitted with ribbed grips. The magazine is marked "P.38v/U."

Very fine. The pistol retains 60% much faded original blue finish with the balance a smooth gray patina. The grips are fine with a couple mild handling marks. Mechanically excellent.