I noticed the rear sight pitting before I'd purchased it, but didn't pay it much mind: a 70 year old rifle in any state of issue, non-issue, refurb, etc. is allowed to have some minor pitting. For what I paid I was willing to overlook some cosmetic issues.

So, we're of the mind that this rifle has been refurbished, most likely not back at the factory, but by a dishonest civilian gunsmith who took a sporter rifle, re-stamped the sn's so they'd match, put new furniture on it, and sold it as a numbers matching, unissued No.1 MkIII*.

I'm glad I didn't pay too much for it.