Jarrod, so you just bought a Luger for $120??!! Pretty hard to beat that no matter what the condition as even the smaller parts would be worth more than that! Anyway, you might have a gunsmith check it out as it could be your shooter while you're on the search for something nicer to collect/display.
My shooter is a mismatch of pre and WWI parts and it shoots fine. The receiver/barrel is 1913 yet I'm not afraid of the steel failing. A lot of people here fire Lugers that old. Just have it checked out first like you would with any used gun you buy.
How about posting some pictures of this gun, it would be interesting.
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