Another John Moses Browning creation. Browning also invented the .25 ACP cartridge fired in this pistol. This Colt 1908 Hammerless .25, also known as the Vest Pocket Model N, was manufactured in 1916. This example had genuine factory mother-of-pearl grips.
The genuine mother-of-pearl grips added $5.75 to the $16.50 base price of the pistol, for a total purchase price of $22.25 in 1916.
Value analysis: 1916 to 2008
Occasionally a gun I have purchased intrigues me enough that I feel compelled to analyze its history. This was one of those guns, mostly because of the price I paid and later sold it for. I purchased it for $500 in the fall of 2007. In the fall of 2008, when President Obama was elected, I sold it for $1,000.
Condition and collector value
Important note: I believe the condition of the original nickel finish and factory mother-of-pearl grips greatly influenced the value of this gun. The graph illustrates slow value growth during production years, followed by faster growth after Colt ceased production.
Whether the market price increase was entirely attributable to the “Obama reaction” buying frenzy is open to question, although I believe it was certainly a factor. If we cannot say that bump accounted for the entire gain, then I have to question whether my original purchase price was simply better than I realized.
Was it a bargain?
In retrospect, perhaps. I bought the pistol at a gun show from a dealer. I saw it on Saturday and did not buy it. When I returned Sunday, it was still there. The tag was $500, the seller was firm, and I paid him.
That gives me first-hand knowledge that the little gun was exposed to the market. There were many buyers there both days. I do not recall thinking I had stolen it, but I did believe it was a good deal and that the grips alone might be worth a lot.
Selling online versus locally
I am sure I got the best price by selling online. The gun-show purchase and internet-auction sale may also reflect market differences. I bought locally and sold online to one bidder. When I sell a gun like this, I go through a local FFL to transfer and ship.
A collector’s license, or C&R, does not authorize a collector to engage in the business of dealing in curios or relics. A dealer’s license is required to engage in the business of dealing in firearms, including curios or relics. Source: ATF guidance on collector licenses.
Related Reference & Holsters
For deeper research, the Colt Pocket Hammerless reference book is useful. For practical display or storage, period-appropriate pocket pistol holsters are also worth browsing.
Colt Pocket Hammerless Book Colt HolstersAs an Amazon Associate I earn from qualifying purchases. I only link to books, tools, and accessories that fit the editorial purpose of Gun Collectors Club.
About Greg Cook
Greg Cook writes about firearms collecting, personal history, and the stories behind interesting guns. His Army MOS was 76Y, Unit Armorer, and he brings that practical background to his collector articles.