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Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming

Fri, Oct 23, 2026 11:00AM EDT
  2026-10-23 11:00:00 2026-10-23 11:00:00 America/New_York Lock, Stock and Barrel Lock, Stock and Barrel : Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming https://bid.lsbauctions.com/auctions/lock-stock-and-barrel/lock-stock-barrel-auctions-live-auction-7---cody-wyoming-24995
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Lot 2442

Colt Model 1903 Pocket Hammer 4 1/2" .38 ACP Semi-Automatic Pistol, MFD 1904 C&R

Estimate: $600 - $1,200
Starting Bid
$10

Bid Increments

Price Bid Increment
$0 $10
$100 $25
$500 $50
$1,000 $100
$2,000 $200
$5,000 $500
$10,000 $1,000
$25,000 $2,500
$50,000 $5,000

Make: Colt

Model: 1903 Pocket Hammer

Serial Number: 19761

Year of Manufacture: 1904

Caliber: .38 ACP

Action Type: Single Action Semi-Automatic Pistol with Removable Magazine

Barrel Length: 4 1/2"

Sights / Optics: The front sight is a tapered blade fixed to the slide. The rear sight is a "U" notch with a rounded top dovetailed into the slide.

Stock Configuration & Condition: The grips are two-piece checkered black plastic Sports Inc. panels. The grips have fairly even light handling wear, the left panel has some areas of compressed checkers. There are a few nicks and scuffs. The checkering is generally well defined. There are no chips or cracks. Overall, the grips are in Very Good condition as not original to the gun.

Type of Finish: Blue

Finish Originality: Refinished, the slide is serial-matching.

Bore Condition: The bore is gray, the rifling is generally well defined. There is scattered light erosion and pitting in the bore. In this writer's opinion, the bore rates 5/10.

Overall Condition: This handgun retains about 80% of its current metal finish. The slide wedge's indexing stud is intact. The finish is thinning at most edges, more notable on the leading edges of the slide and dust cover. There are scattered nicks, scuffs and scratches, mostly along the left of the slide and in the backstrap. There is some scattered minor surface oxidation. The action shows operational wear. The screw heads range from sharp to disfigured with usable slots. The markings range from clear to worn and incomplete. Overall, this pistol is in about Very Good condition as refinished.

Mechanics: The action functions correctly. We did not fire this handgun. As with all used firearms, a thorough cleaning may be necessary to meet your maintenance standards.

Box, Paperwork & Accessories: This pistol comes with one 7-round magazine, also refinished.

Our Assessment: Colt's Model 1900 was the first automatic pistol manufactured in the United States and marketed in an environment still oriented to revolvers. Self-loading pistols had been manufactured for several years in Europe but were hardly accepted in the year 1900 when Colt began selling the John M. Browning designed pistol. Browning was nothing short of a genius in firearms design and associating with the marketing and manufacturing abilities of Colt’s Firearms insured the eventual acceptance of the automatic pistol design. The 1900 underwent continuing design changes, becoming the 1902 Sporting and Military Models. The success of these pistols led Colt to believe that a smaller version was in order, a pistol that could be carried in a pocket or holster. This spawned the 1903 Pocket Hammer, which was basically just a shortened version of the 1902 and made with much of the existing tooling. Like its big brother it lacks an external safety and has a 7 shot magazine with bottom release. One noticeable change from the M1902 pistols was the slide serrations, which were moved to the rear of the slide. Colt manufactured about 31,250 of these pistols. The Pocket Hammer was the most successful of the .38 ACP pistols, but its success paled in comparison to the hammerless .32 ACP and .380 ACP hammerless models that were to follow. Production of the M1903 slowed during WWI and surged in 1920, but then fell off, people were either gravitating to the larger M1911 for knockdown power or to the hammerless pistols for concealability.

This M1903 Pocket Hammer pistol was made in 1904, quite early in production. This model's serialization is odd in that it started at 19999 counting down to 16000, then counting up from 20000, putting this pistol in the first 250 produced. The pistol has been refinished, so it looks great for its age, retaining a serial-matching slide, a fair bore and strong mechanics. This model, along with its M1900 and M1902 predecessors, is a must-have amongst Colt collectors as being one of the first of the Colt semi-automatics. Please see our photos and good luck!

Lock Stock & Barrel Investments Inc.

2301 Lt. Childers St.

Cody, WY 82414

United States

 www.LSBauctions.com

 T +13075278915