Walther P.38 Made in Spreewerk, Czechoslovakia: What's Its History and Value?

Question: I purchased a Walther P.38 from a local gun store that they had acquired through an estate sale. The serial numbers match with the exception of the firing pin, which had to be replaced to make it fire safely. It has the production code “cyq”, indicating it was produced in Spreewerk, Czechoslovakia, and has the serial number of 45XX. I was wondering if you would be able to find any background history, and what its approximate value is. 

 -S.F. of Oklahoma

Answer: You seem to have done much of my work for me already. You do, indeed have a P.38 manufactured at Spreewerk. It has the proper “cyq” code as well as the “eagle 88” acceptance mark. Condition appears to be decent; from what I can see, about 70 to 80 percent. The piece has the added plus of not having a serial number letter suffix, which does enhance its value somewhat. It is estimated that some 284,500 P.38s were manufactured at Spreewerk with the serial numbers running from 501 to 10,000z. I’d estimate its worth in the $750 to $825 range.

-Garry James