The serial number for a Luger will be found on the front of the frame directly below the barrel. Commercial serial numbers never went past 5 digits. None of the commercial pistols manufactured in 1914 would have had the American Eagle on the chamber. Also a 1914 commercial would be in the low to mid 70000 serial number range.
If the serial number is in the 48,000 range (and not 480,000) it could very well be a 1906 American Eagle. Without more information there is very little that can be added.
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