I picked up a Colt 1911, WW1 colt frame with US Property Stampings on it, and a Remington Rand slide. Got it from a local  gun shop for 525.00. I know its a shooter, and not really collectible, but I am just getting into the 1911's and wondered if I did ok for that price? The  finish is worn and almost a light silvery color. It has an adjustable (MMC?) rear sight that I was thinking of removing. Any input appreciated. Don't know how to post pics here . Thanks

you did good....its either a re-arsenal gun or one that someone slapped together using different parts....regardless the sum of the frame and slide should be worth $500....I would do a little research and try to get it back to original configuration...post up some pics when you can

If it has a MMC rear sight, the slide may have been milled and a stock rear sight may no longer fit or look right.

Good for you and that is a great price.
i had a friend that had probably a WWII Colt and it rattled like you wouldn't believe.  Shot good still and what was scary it didn't have a serial #..  The friend died and I don't know what happened to it.
He had some kind of an explanation as to why it didn't have a # but I don't know if I could believe it.