This is an excellent example of a very scarce early production commercial Walther Model HP pistol that was manufactured in the late second or early third developmental stage of production in early to mid 1940 either during or right after the production of the Swedish Commercial contract pistols. This series of pistol, chambered in 9mm is very scarce and is considered to be a true Commercial "HP" P.38s being manufactured prior to WWII. The left side of the slide is marked with the Walther Banner followed by the two-line factory legend, caliber and "Mod. HP". The serial number "2116" is located on the front of the barrel lug, the inside of the slide on the right side of the frame above the trigger guard. The bottom of the locking block is also numbered "116". The right side of the slide, frame and barrel are stamped with the early commercial "Eagle/N" proofmark. The magazine is an early military marked "P.38" magazine, probably from an AC-41 variation as it has the single Eagle/359 Waffenamt proof and is numbered "6545c" on the front lip of the floor plate. It has the standard early commercial fixed sights and the correct early black plastic checkered grips that are marked on the back sides with the four makers marks of "Cewe/480/makers mark/V7 Z3/1". The left side of the frame has the small Russian capture X mark with the small East German "sun burst/11" VOPO proof on the right side. This pistol is listed by serial number on page 99 of Volume I, "The P.38 Pistol" by Warren Buxton.

Very fine as arsenal refurbished with 95% of the blue finish with wear on the edges and high spots and the front grip strap showing a duller blue/brown patina. The grips are near excellent showing minor handling marks. As noted above this scarce pre-war HP pistol has all the original matching numbered parts except the magazine. A very scarce pre-war pistol that is seldom encountered.