It is a home done job. But, there are several of these around (I have one). The workmanship is better than a Bubba's basement alteration. My guess is that a Swiss gunsmith cranked out a few of these in the '20s, made up of recycled military and commercial pieces. Each one is slightly different and usually re-barreled. Mine, for example, has had a grip safety added. They probably were made for the commercial market and probably sold out of the gunsmith's shop. All of this is a WAG, so take it for what it is worth.
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If it's made after 1918...it's a reproduction
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