It is unusual that I would disassemble a Luger to the point of removing this pin. However, I did have occasion to do so with a 1917 DWM military Luger earlier this year. The pin was in two pieces, broken almost exactly in the middle, but there was no sign of this from the exterior.
I had never fired the gun, as it was a good collectable Luger, so I don't know how much danger it represents.
I'm no expert, but I would strongly recommend that you not fire the gun in that condition until you hear from some of the real experts on the Forum.
Good luck,
Luke
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