It's pitted and it was re-blued over the pits long enough ago that the re-blue is starting to brown. The grip panel facing the camera is an ugly repro but the one on the other side is original. It's all there and mechanically sound; a shooter and a representative example, if a little homely.
The price, on the other hand, was right. Especially for Browning's first commercially-produced self-loading pistol from the first year of production.
Post on the other blog forthcoming.
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