A co-worker of mine claims his uncle....

(Why do stories like this always involve some dudes uncle?)

has a 1911 as described above.

Assuming he isn't full of it, what would be the value of such an animal?

Thanks!

ETA: He says it's a Colt.  However he also calls magazines "clips" and therefore like many he may just be referring to it as a "Colt .45"

Depends. Colt, Springfield etc...

$50

I'll give hime $75 though because I'm a nice guy.

I'm going to laugh if it is one of the new springers

Quoted: I'm going to laugh if it is one of the new springers

+1

And I would almost bet thats what it is.

Depends...if it's original, it should be in a plain old brown paper box, wrapped in wax paper.

See if you can get it's serial number to date it...

If it's a real Colt from WWII that some officer bought and just locked away? If he has the original receipt, etc? It's worth a fair bit of money to a collector. Couple grand, maybe.

Quoted: Quoted: I'm going to laugh if it is one of the new springers +1 And I would almost bet thats what it is.

Agreed.
Or one of the Colt Repros.

We had a gunshow Commando come by our table a few gunshows ago. As it so happened, we were having a really interesting discussion about our friends original 1911 (for real), when the Commando couldn't keep quiet any longer:

"I got one of those, and it's in a lot better shape than that one", and off he scurried, and quickly returned

"See, see, his has the finish all worn off, mine still has all it's original parkerizing, and it's still new"!

Sure enough, he presents one of those parkered parts guns, that are making the rounds around here, rust pits under the parkerizing, rollmarks almost buffed completely off, and a bunch of mismatched trim items, such as a modern barrel & slide stop, non original era grips etc.

"Yes sir, it's never been fired, just like when she was built during WWI!" Then to the guy with the genuine 1911, "You keep looking, don't get discouraged because yours isn't as nice as mine, you'll find yourself a good one too".

Our 1911 owner smiled at him and we all told him we appreciated him sharing his piece of history with us, then told him there was someone waiting at his table, and off he went. We just smiled, and kept talking. I wonder if that was Jug Johnson, hmmm....