I'll take a crack at a couple of your questions.
It is a "low" number in the M block, but not actually a low number as they repeat with each new letter of the alphabet.
I can't tell from the photo but some parts that should be strawed color seem to be blued.
The magazine, I believe, is an older mec-gar or similar commercial product, good for shooting but of no interest to collectors. But the finish confuses me a bit, so I may be way off.
Overall a nice pistol, but not particularly collectable due to commonality. The .30 cal has its fans but is a but more pricey to shoot than the 9mm.
I'll leave the year of manufacture to the guys with all the pricey books...
$700 would be a ballpark guesstimate.
Welcome to the world of Lugers!
dju
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