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I'm partial to the .32's but I have a ton of .32 fn ammo I got long back. They have always shot extremely well for me. I have a 1908 mfg 1903 in .32 that I shoot quite a lot, excellent trigger and nearly dead on out to 25 yards. The bore does not look great with some pitting/wear but it still shoots very well.
 

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Count me in with the .32 crowd.

I have two 1903s and both feed and function without issue. Both have some "character" but the bores are shiny with strong rifling. The sights (a groove and a front semi-circular blade) are crude and not conducive to target shooting, but these little guys still group pretty well at 15 yds. Aftermarket mags function surprisingly well, but YMMV. Would I pay $900 to $1200? No. But I waited and waited, and found these acceptable examples for $400 to $500 apiece and they do not disappoint.

Noah
 

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I have both; a 1920 M03 and a 1915 M08. The .32 is a lot friendlier on the hand than the .380, also 8 round capacity vs. 7. Rubber grips are easier on the hand than wood. Just get both! I put a splash of white paint on the leading edge of the front sight to help in acquisition; the sights are small and hard to pick up. The .32 is mint; I traded an Italian Brown Bess for it in '08, and paid $800 for the .380 in '15 in very good condition.

t
 

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Try the finger rest war time -PP and -PPk; now going for $300.

t

yep,
crazy times,,


had a guy try to sell me his 1903,
insisted it was worth much more than I was willing to pay (I am a dealer) due to the magazine costs,,

he did not get it that the gun was worth significantly less with out the mag,, (he was thinking of keeping it to resell, and sell me a gun less mag)

needless to say, he left with it
 
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