The earliest verified American Eagle serial number is #2002. The first 200 (highest known is #2199), and another block in the 8900 range, had Swiss proofed barrels. Five other American Eagle Lugers in the 5400 range have been reported, including #5404 consecutive with yours.
The magazine sounds interesting. As Ed requested, can you provide pictures of the gun and magazine?
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If it's made after 1918...it's a reproduction
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