These turn up frequently at the shows and on Fleabay. Many thousands were imported and sold with lugers during the 1920's. In fact, in my collection of Luger "paper" I have an advertisement that depicts one these modified in exactly the same way. The price was $2.00 in 1923. They typically bring about $200-250 in minty condition from what I have seen.
And, per Jerry's comment, there were belt-loops made to accomodate wearing.
Tom A.
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