I just bought a post war P-38 at the last gun show for $329. Afterwards I saw a bunch of ads in Shotgun News, etc. of P-38s for $269 or so wholesale. These were advertised as ANIB. Mine appears to be NIB but could possibly be ANIB.

Anyone have any info on why these are so cheap now? Police trade-ins, mil-surp, etc.??? I looked at several of these that the dealer had & there were two or three different types of sight set-ups. What's up with that?

Looks like a flooded market. Kinda like the Makarov flood or the SKS flood before that.  I have never seen any other type of sights on a P-38 unless maybe some later models adopted the P-5 style, which I think had a windage adjustment.

Sometimes a German police dept trades them in. If so, they will also throw in a holser. I remember seeing these ads in Shotgun News when everybody was switching to Glocks.

Just got a paper today that has 'em for $219.97 in excellent to new condition...its a flood! These P-1 versions were "held in storage" by the German military and does come with a holster.  www.centerfiresystems.com

Yep, mine came with a cheap East German $5 holster. Anyone have any idea what I can expect on accuracy? 2-3" @ 25 yards, maybe? Or is that hoping for too much? I picked the one with the best SA trigger feel. It is nice for a "cheap" gun.