Formed in the 1940s by the Irwin family, Michigan furniture makers, and arms designer John Pedersen, Irwin-Pedersen produced approximately 150,000 M1 carbines before the Ordnance Department canceled their contract, making the Irwin-Pedersen the most scarce of the M1 Carbines. "2-43" dated Underwood barrel, type I barrel band with "UP" marked sling swivel, blue flat top milled bolt, "IP-B" magazine catch, "IP-A" push button safety, milled trigger group, "PN" blade front sight, flip-up rear peep sight with "S" and "RP" marked base, and standard markings on the receiver heel. High wood pistol grip stock and two-rivet handguard with deep cut sighting channel, crossed cannons ahead of a boxed "S'G'" cartouche on the right side of the buttstock, "IR-IP" stamped in the sling recess, and stamped checkered buttplate.

Excellent, retains 97% original parkerized finish, and 80% original blue finish with a dulled appearance and scattered moderate freckling on the bolt. Magazine retains 40% original blue finish in the protected area with some scattered light pitting and brown patina on the balance. Stock is also excellent with defined edges, a small chip above the barrel band spring, some light handling marks, and crisp stampings. Mechanically excellent.