[Mauser720]

In regards to this question: "First are Lugers still a sound investment?"

I have never thought of my Lugers as an "investment" in the same sense that stocks and bonds, for example, are considered an investment.

I know that over the years they have gone up in value though. I can remember when my Dad bought an all matching Luger from his brother for what I think was only $25.00. And in the seventies, I did buy a "shooter grade" Luger for $165.00.

However, there are some issues which, in my opinion, tend to detract from the desirability of Lugers as investments.

1. They are not readily converted into cash. In other words, they are not a "liquid" investment. Unlike stocks or bonds, for example, you may or may not be able to buy one today and sell it tomorrow.

2. There are no grading standards for condition. We talk about 95% and 98%, etc., but one collector's 98% condition might be another collector's 90% condition. There are no books out there which illustrate exactly what a 98% condition particular Luger should look like. Compare this situation to coins, in which collectors have access to detailed descriptions of exactly what the various conditions will exhibit.

3. There are no nationally recognized and reputable grading companies which will certify the condition of any Luger. Again, compare this coins in which there are companies which will certify condition.

4. There are some excellent books regarding the varieties of Lugers; however, there are no books which document the range of monetary values for the various Lugers. In many other collecting activities such as coins, stamps, arrowheads, comic books, etc., these valuation books do exist and they are periodically updated too.

5. In any collecting activity there is always the possibility a fake will be encountered. If you buy a gold coin from the United States mint, you know you are getting the genuine article. If you buy any Luger on any Internet web site or auction, you run the risk of getting something that is less than authentic. A good example of the problem of faking and "boosting" is the Navy Luger, for example.

6. There is no single nationally recognized organization which details standards of conduct for Luger collectors, and provides for a dispute mediation service. Now I know this may sound like a "pie in the sky" idea; however, there are such organizations in other collecting activities. In fact, if members of such organizations violate the standards of conduct, they are removed from membership in the organization. Now campare this to the attitude of "Let The Buyer Beware" which is used to permit all kinds of unethical conduct when it comes to acquiring and/or disposing of Lugers.

In summary, I know they go up in value; however, I do not think of them as an "investment" in the usual sense that we think of investments.

Rather, I enjoy them and appreciate them for their historical importance, and as some of the finest examples of firearms engineering and design to have ever been developed.