Neil, it is indeed a police pistol having belonged to the Schutzpolizei command in Frankfurt am Main in the Weisbaden administrative district. It is also one of the anomalous 1921-dated DWMs with a five-digit serial number. They are a cross between military and commercial models that DWM apparently put together about the time their military production was shut down by the IMKK. The Frankfurt Schupo had a number of these. More information can be found in HWIS, pp. 127-9.
What stamps are found on the left and right sides of the receiver?
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