Inherited 1918 M1911 in need of help (Again)

[TTA1326]

The original thread is here and I have a complicated question...

http://forum.m1911.org/showthread.php?t=42011

I know this gun isn't in such good shape and multiple people here and other places have said it isn't worth a lot like it sits, but... I'm not interested in selling the gun, just making sure my insurance agent knows that I have it and has some idea of the how irreplaceable it is. I've had it a home for a year and a half now and I may put it into a safety deposit box very soon.

I know that most folks on here are 1911 nuts like myself, but you really can't explain it to a non 1911 insurance agent. I don't want to stick a stupidly high restored value on the gun, but I don't want to say $200 either. I guess one would have to remember that even $5K or $10K can't buy my grandfather's personal pistol back if something happens to it. It's simply not available for purchase anywhere in the world and I wouldn't be happy about losing it regardless of the insurance coverage.

So how do you put all of that into a dollar value which is the only thing insurance agents understand? Restore it first? Pick a number at random? I don't want to do either right now. I'm about to call my agent and inform him of my $15K+ drum set and I figured I might as well get this pistol in there too. Would more\better pictures of the gun disassembled help anybody?

Pictures from original post...

http://i246.photobucket.com/albums/gg98/TTA1326/IMG_4085.jpg

http://i246.photobucket.com/albums/gg98/TTA1326/IMG_4087.jpg

[jhudson]

Just my .02, but I'd get it restored to its former glory just for the guns sake. It would help protect the metal if anything, and you can keep the grips on it or keep them with the gun in a good case.

And it just might be worth more at that point.

[doubs43]

Sentimental value doesn't have a price tag so that is out as a factor for insurance purposes. Even in it's present condition, if you have documents that tie the pistol to your grandfather and his service with it, that could improve the value somewhat although it's had some newer parts added and isn't completely an "as-issued" 1911. I'm not going to offer an estimate of current value because I don't feel qualified to do so but others here can get you in the ball park.

A bit OT but your pistol reminds me of the description my father gave of his first 1911. It was completely bare of all original finish and the bore was ruined. He only paid a few dollars for it and bought a new WW1 surplus GI (original) barrel for $1.25 that included shipping. Surplus WW1 cartridges were cheap in the 1920's and he shot it a lot. There was a large tree stump in a meadow at a distance of about 150 yards and he claimed that he could make bark fly from it on nearly every shot after he'd found the correct hold over.

[Johnny Peppers]

Sounds like the safe deposit box is your best bet. It stands virtually no chance of being stolen there, and you can save the insurance premiums that won't replace the pistol if stolen. Homeowner's insurance is to protect you from monetary loss, so any amount you insured it for would not replace the sentimental value.

[Dexter]

+1 to what Johnny said. I am not even close to his level in specific regard to collecting 1911's, but I do have guns and tools of my dads', which have value, to me, beyond any amount of insurance. Personally, I use some of both the guns and tools periodically, never without a happy memory, and the rest are on shelves or hooks, or in the case of guns, securely locked up, only to be taken out and cleaned on a cold winter day. If, however, you are worried about value, as Johnny said, get a safe deposit box. Not for me though.

[TTA1326]

I don't think I'm going to restore the gun, but I might do it just to protect it. Also, I would assume that it's only going to get harder to do in the future. But, if I did, what might this gun be worth? I would have it fully restored with the same pieces that are on it, replated and fitted with real Stag grips.

[Johnny Peppers]

With the type of restoration you are looking at, you won't substantially increase the value, and the pistol will no longer be like it was when your grandfather left it to you. If it has great sentimental value don't change it, but rather just clean it up and preserve it.

[TTA1326]

I should have explained that I'm 90% sure I won't change anything unless I start seeing serious issues with the metal. I just have so many people in the family that look at it and ask me what it's worth. My answer is that I have no idea. When I tell them that I might restore it someday they want to know what it would be worth restored. I don't understand it, but everybody asks the same questions!

But, you have to remember that my grandfather never really talked to anybody about the war and not too many folks have even seen this pistol. He also had a 45 revolver that went to a cousin and an antique 12 gauge that went to my brother, but those were pretty well known in the family. This pistol wasn't.

[jhudson]

I should have explained that I'm 90% sure I won't change anything unless I start seeing serious issues with the metal. I just have so many people in the family that look at it and ask me what it's worth. My answer is that I have no idea. When I tell them that I might restore it someday they want to know what it would be worth restored. I don't understand it, but everybody asks the same questions!

The correct answer from me when asked the value of a family heirloom, Priceless.
Worth should be of no consequence to them.

I do agree with Mr. Peppers about the safe deposit box.

[TTA1326]

The correct answer from me when asked the value of a family heirloom, Priceless.
Worth should be of no consequence to them.

I do agree with Mr. Peppers about the safe deposit box.

I agree 100%. :) That's exactly what I've said several times. I think it's either morbid curiosity or the Energizer Bunny that drives them on and on and on...

[Dexter]

Mr. Hudson is exactly right. The bottom line is that yes, probably like other things that you grandfather had, it has value, but it is not a one-of-a-kind, and that is not the point anyway. Holding something of his is the value, and the rest is only fodder for gossip. I would not even mention it unless someone else brings it up, and if it comes up, keep it simple and civil. The only way that the actual value of anything on this earth can be assessed is to sell it, and you don't want to do that. One thought too is that you may want to bone up on some history of your grandfather's unit, the history of this particular gun, which would probably be rather short, or the history of the 1911; that way you could be prepared to quickly change the subject to something less stressful or whatever.