Manufactured between June 1939 to May 1940 as part of the initial run of Walther's German military P.38 production, the Zero Series served to "fine tune" the Walther HP to Wehrmacht specifications, and was an important stage in the pistol's development. This particular example is a "third issue" example of a Zero Series found in the approximate reported 03500-012999 serial range, continuing in the serial number sequence from the first and second issue Zero Series pistols, now improved with a round profile firing pin as opposed to the previous rectangular profile firing pin found in the previous iterations. These Zero Series pistols are very scarce compared to standard production P.38 pistols and have become extremely popular among collectors due to how they illustrate the important changes made during production of the model. Features a white painted fixed blade front sight and red painted fixed notch rear sight, round firing pin, serrated takedown lever, and an exposed extractor. The slide is marked with the Walther banner and "P.38" on the left, with "eagle/359" proofs on various components. Fitted with a correct magazine non-matching numbered "05965" on the left, only 89 numbers away from the pistol, with otherwise matching full serial number marked on the slide, frame, and barrel, and matching partial numbers on the locking block and inside of both grip panels.

Excellent, retains 98% bright original high polish blue finish with some minor high edge wear. The sights retains 97% of the factory applied paint. Grips are also excellent, with some scuffs at the top of the left grip, and distinct checkering. Mechanically excellent.