This is an extremely rare second developmental stage Walther Model AP (Armee-Pistole) prototype pistol serial number "039" as produced circa 1932-34. It is estimated that the total production of these early Walther prototypes was approximately 75-100 with less than 20 known today. This series of Walther pistol was actually produced in two serial number ranges, with the second group using the "zero-prefix" serial numbers, like this example. This model is noted for having a "concealed hammer" design and it does not have any provisions for a shoulder stock. These are considered early engineering design or development models, with no two are alike, so each can have some unique and innovative features. This example has the standard swinging locking block, along with the standard twin recoil springs (one on each side) of the frame, standard 4 7/8 inch barrel, with the two separate, fully machined takedown and slide release levers. The takedown lever is the early model that still retains the larger checkered head. The slide also has the large, single reinforcing rib on each side of the slide along with the noted concealed internal hammer, that is probably characteristic of the early Walther "Mod AP" pistols. This example has an all steel frame with the longer rear area (below the slide serrations); however, as noted, it is not machined for a shoulder stock. The left side of the slide on the reinforcing rib is marked, "Waffenfabrik Walther, Zella-Mehlis (Thur)", and below that it is marked, "Walther" inside a banner followed by "Armee-Pistole Cal. 9 m/m". The right side of the slide below the reinforcing rib is marked "Walther's Patent". The serial number "039" is located on the right side of the frame above the trigger guard bow, the right side of the barrel lug, the right side of the locking block, and the top, right side slide rail. Additionally, the underside rear cut out area of the slide is stamped "39". With original Walther factory wrap around two-piece grips that have the full checkered panels on each side and a lanyard loop on the lower left side. The grips are also numbered "39" on the back of each panel. This super rare pistol comes with a reproduction, unnumbered magazine that is stamped "MEXICO" on the top of the lip of the base plate. The pistol is listed by serial number in Warren Buxton's "The P.38 Pistol" on page 36. This Walther Mod. AP is an extremely scarce and important pistol in the overall design and development of the Walther P.38.

Very fine with 75% plus of the original blue finish overall with edge and high spot wear with the top rear section of the slide/firing pin cover and back side of the slide both showing a large area of rust spotting/oxidation that is mixed with blue flaking and brown patina. The balance of the pistol shows nice original, high polish blue finish. The original grips are both in excellent condition with nice distinct and sharp checkering on both sides. Mechanically functions fine, but the trigger return spring is weak and does not rebound fully on double action. A very fine example of a super rare early Walther AP prototype pistol.