Posted 04 July 2004 - 04:01 PM
This is a cut and paste of information I send to people who shoot my WWII vintage Savage '28 and want more information. Though you said you are after a "shooter" there is "investment" related information here also. Keep in mind, there are no more new machine guns for individuals as of May 19, 1986. Any Thompson you buy IS an investment, not just a "shooter." Compared to, say, M11/9's the number of Thompsons of any variation is very limited.
To my way of thinking, there are four basic full-auto Thompson categories (i) the Colt made 1921 and 21/28 (converted 21s, also called Overstamp and 28 Navy), (ii) the WWII vintage 1928 and 1928A1 made by Savage and by Auto Ordnance (I, possibly incorrectly, include the so-called commercial Savage here), (iii) the WWII M1 and M1A1, and (iv) the 1975-86 West Hurleys. There are a number of variations within the general groups. There are other relatively rare prototypes and variations that one hardly ever encounters. The value generally decreases in the order written but they all are collectable. Thompsons in any model are likely to be good investments unless one simply pays too much for what the gun is. Many asking prices are grossly out of line.
What to look for?
Price generally depends on a number of factors:
Original or re-wat?
Matching or non-matching parts?
Which of the manufacturers (e.g., Colt, Savage, Auto Ord, NAC, and West Hurley)?
What accessories are included in prices?
Is the gun you want available at a discount price as part of a package deal for several guns or other items (volume discount, “bundling”)? Do you want the other guns/items or can you readily dispose of them and still maintain a discounted price on the gun you want? Do you have the money to buy the package deal?
Condition, condition, condition.
Second, what are your intangible wants. Do you want a Thompson M1 because you saw Tom Hanks use one Saving Private Ryan? A Thompson 1921 because that's what was used at the St. Valentine's Day massacre?
Third, do you want the gun primarily as a shooter or more for investment?
A lot of WWII vintage Thompsons (most of the M1s and M1A1s) have non-matching upper and lower serial numbers due to most of the guns coming from military service where they were repaired/rebuilt in service or before being sent to the police and civilian market after WWII. Some M1 and M1A1 lower frames have no serial numbers and some were restamped with numbering to match the receiver they were mated to during repair. On a 1921 or 21/28 Navy Thompson, the upper and lower numbers should match and non-match probably decreases value. On WWII 1928A1 , M1 and M1A1's since the likelihood of match is fairly low, non-match is more or less expected so matching may increase the value over the average all other things being equal.
Good luck in your quest!
Tom S.
