Inherited Dad's M1 Carbine, an Irwin Pedersen

[Allard J2]

I recently inherited Dad's M1 Carbine. I owe my sisters some monetary exchange fairness, and so am trying to determine a good "if I sold it" value (even though not selling it).

Until yesterday spending snow storm time on the internet, I knew virtually nothing about an M1 Carbine, except I have fired a couple of magazines through it as a teenager.

Here's "the story." And I've also read "disregard the story, and evaluate the gun. The story holds no merit and the gun is the whole story" type of thing in this regard. Anyway... Grandfather's sister's husband was in the Navy as a CPO on a battleship, and that's where it came from, a battleship armory, back then. At what point that was is anyone's guess. That person gave it to my Grandfather in the early 1950's. The FACTS I know are: It was on Grandpa's gun rack when I was a kid in the 1960's. Grandfather gave it to Dad in the '70's. The family has fired it, but maybe one outing every 25 years. Dad put it in a WWII display case he made, with a '45 M1 Garand and a '43 RR .45.

SN 1,781,XXX in excellent condition.

Type I Stock has IR IP Very-very lightly stamped (hard to see) in the sling cutout, at the top rear. Stock is high wood, appears (to me) to be walnut, very dark with a red tint. Stock has a circle P stamped in the butt of the pistol grip area (was double struck, 1/8th inch off on second hit). Irwin Pedersen is on the rear of the receiver above the serial number.
Barrel has UNDERWOOD 3-43 on it, then the Ordnance flaming ball. Top of barrel, about an inch forward the forward part of the stock is a small P stamped.
Front sight has IPN stamped after sight tang on the top. Left side has a small 4 stamped. Right side has nothing.
Rear sight is a flip type. Right side has small RP stamp. Left side has a small S stamped.
Front sling D ring has UP stamp.
Push button safety has IP-W stamped on right side of button.

Not much else visible without disassembly. Not sure I trust just "any gun shop" to leave the rifle with them for an appraisal, and then have them disassemble it into all it's marked parts. Too easy to substitute other parts into it and take any IP parts they find--maybe I am just distrusting. I may have to disassemble and take photos prior. Or just value it myself. Not sure.

Anything I could learn about it would be interesting, anything anyone might say to place a "going to sell it" value on it would also be appreciated (even though I am keeping it). Thank you in advance. Pretty much a novice on it all.

Information

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[shadycon]

Very, very nice. I wouldn't know what value to put on it. Sorry, but other are better at putting values on these.......

[USGI]

I believe I can see the S'G' acceptance stamp just behind the wrist on the RH side of the stock. Is picture #2 showing the same safety as in picture #5? Looks different, but maybe it's just the amount of light on it. I hope someone hasn't already changed out some of the parts. What about the trigger? - Bob

[Allard J2]

Yes you are right: Can see a very faint SG in a square box, just behind the RH wrist. Thank you for pointing that out, I hadn't known what to look for, or at. No, I didn't pick the rifle up between photos except the one of name and serial #, so yes it's the same safety just different light. Gun hasn't been out of family possession at all... since probably 1945 ((that is a best guess about when it probably left the Navy. Immediate post war, lots of ships coming in, lots of items and boxes going ashore, many things displaced/lost/misappropriated/taken)). No one else has touched it besides man who obtained it, my Grandfather, my Dad, and myself. I was just voicing my concern about "leaving it to be appraised". But not having any luck finding an appraiser anyway, so turned to here as a possible source of some information and a value. Trigger? Guess that's with all the "take it apart to look at it" things which I have not done yet.

[USGI]

There's a member here "Chuck in Denver" that might be able to help you out. You should be able to use the search feature to find him and send a PM (private message). I've got an S'G' Carbine that's just a bit later than yours - the trigger has differences that you can see without taking it apart. Search here on the forum or use Google and you should be able to find what I'm talking about. - Bob

[INLAND44]

If its as good as it looks, do not shoot it again and be very careful to preserve it as it is. An issued IP in original condition is pretty much the holy grail of the M1 Carbine. That carbine will have to be appraised by a very astute and experienced carbine authority - someone who has books published on the subject. Bear in mind I am speaking as a hobbyist and not as an advanced collector, but I have been hearing the IP story ever since I got interested in carbines. I've never seen one like that. The few I've seen on gun auctions, etc., were beat up re-Parkerized 'put-togethers' that still sold for 5 figures. The IP story is very interesting. Pedersen was a gun maker/designer and had some success beginning in WWI with a device for the 1903 rifle. Pedersen really was not a success with the carbine and just a few were accepted and issued. Later the receivers and parts were used up by other manufacturers. So it's not about Pedersen or quality - it's about scarcity.

[tenOC]

Is it possible to post some more pictures of the rear sight from above and sides? Also the mag catch. The safety fooled me on the pics too with it being bright then dark in the two pics.

[Allard J2]

Here are the photos, TenOC

[tenOC]

Wow. That's quite a lovely piece.

[cali201]

nice carbine. Regardless of any parts swap you are going to owe your sister some $$$, in the range of $2500-$3500 if you are considering the full value. And you are correct in the local gun store appraisals, most do not know anything about carbines and could say $800 or $8000.