Walther P 38/II 9mm Luger, West German 1969 Ulm Commercial, Two-Tone (matte gray slide/barrel, blued frame), DA/SA, 4.9 inch Barrel, 2 Mags, Spare P1 Slide (6/01)
This West German Walther P 38/II is a 1969 Ulm commercial-production pistol with a two-tone finish—matte gray slide and barrel with a glossy blued frame—and classic P38 pattern features. It carries Ulm antler and eagle/N proofs with a 2/69 acceptance stamp, an INTERARMS Alexandria import mark, and a "Made in West-Germany" frame stamp. Notably, it includes a stripped Walther P1 9mm slide dated 6/01, adding a factory slide component to the package.
Condition
Overall Condition: Good condition, showing some signs of prior use and handling.
Bore Condition: Excellent - Clean, mirror finish, no signs of wear.
Bore Rifling: Excellent Rifling - Sharp lands and grooves.
Specific Condition Notes: There are handling marks from prior use. Please refer to the photos for a closer look.
What's Included
- Walther P1 9mm stripped slide (dated 6/01)
- Two 8-round steel single-stack magazines for the Walther P38/P1 pattern
Commercially produced at Walther’s Ulm facility, this P 38/II is marked with the Ulm antler and eagle/N proofs and bears a 2/69 acceptance stamp. The frame is stamped "Made in West-Germany," and the pistol carries the INTERARMS Alexandria, Virginia import mark. The slide legend reflects the P 38/II designation used following Walther’s mid-1968 strengthening updates.
The pistol uses a DA/SA, short-recoil, locked-breech system with a falling locking block. Controls include a slide-mounted safety/decocker and a heel-type magazine release. It features an external spur hammer, fixed sights with a front blade integral to the barrel and a rear notch integral to the slide, and vertical rear slide serrations.
The open-top slide and full-size configuration align with the classic P38 pattern. The pistol presents a two-tone appearance, with a matte gray slide and barrel contrasted by a glossy blued frame, and it wears black checkered synthetic grips. Capacity is 8+1 rounds of 9mm Luger, and the barrel measures 4.9 inches.
Included with the pistol is a stripped Walther P1 9mm slide dated 6/01. This additional factory slide component complements the pistol and is suited for those who want an extra slide for setup or parts fitting within the P38/P1 pattern.

