Extremely rare "Zero Series" P.38 Pistol. This pistol has a high polish blue finish. Grips are early black plastic with checkered panels and round lanyard staple cutout. Left side of slide marked with the "Walther" banner followed by "P.38" and the serial number. Matching numbers located on the barrel lug, frame, slide, locking block and grips. The "Eagle/359" (E/359) acceptance mark is stamped on several components, and the "Eagle/Swastika" proofmark is stamped on the right side of slide between two "E/359" army acceptance marks. An unusual feature is the "480 code" located inside both matching numbered grip panels; this code was only used by Walther from mid 1940 through October 1940 and was rarely found on "Zero Series" pistols. A small amount of red paint has been applied to the rear sight.

Near excellent, with 90% of the original blue finish, showing bright wear along the high edges, the start of a gray patina on a few areas, light scratching and a very small amount of pitting on the muzzle. Grips are very good, with a 1/2" x 3/4" chip on the upper rear right panel, otherwise light handling marks. Action needs adjustment, hammer does not always hold a cock position.