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I purchased a bayonet/scabbard/leather frog in very good condition for a reasonable price, that was mounted on a Model 38 Arisaka that was covered in dust and dried grease including the bore, was missing the cleaning rod, dust cover, magazine floorplate/spring/follower, the rear sight was bent, and the stock was cracked at the wrist and in the front behind the bayonet lug. The owner basically said buy the bayonet, take the rifle if I would give it a good home. After gently cleaning the stock, repairing the cracked areas with dowels and epoxy as seen in "candyman posts", obtaining a rear sight and magazine parts on line for about $50, and degreasing and cleaning the metal parts including the bore, I find that I have the following: Model 38 Rifle, mfg circa 1920, two zeros in front of serial number & school mark below Mum, complete intact Mum, shiny bore with strong rifling, no pitting or corrosion, and the following parts match either through assembly number or serial number>bolt, safety, receiver, bolt release lever, lower stock, hand guard, trigger guard, and magazine box. The extractor is not marked, and the firing pin had been replaced at some time. I haven't fired it yet, but based on condition I can see, there shouldn't be an issue. Can anyone out there tell me about what the rifle is worth if I would purchase it in this condition.
 

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"Restored" as you did, my WAG would be $150-$200. Most folks had rather have a non school rifle though many were reissued to the military late in the war, so the story goes.
 

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I purchased a bayonet/scabbard/leather frog in very good condition for a reasonable price, that was mounted on a Model 38 Arisaka that was covered in dust and dried grease including the bore, was missing the cleaning rod, dust cover, magazine floorplate/spring/follower, the rear sight was bent, and the stock was cracked at the wrist and in the front behind the bayonet lug. The owner basically said buy the bayonet, take the rifle if I would give it a good home. After gently cleaning the stock, repairing the cracked areas with dowels and epoxy as seen in "candyman posts", obtaining a rear sight and magazine parts on line for about $50, and degreasing and cleaning the metal parts including the bore, I find that I have the following: Model 38 Rifle, mfg circa 1920, two zeros in front of serial number & school mark below Mum, complete intact Mum, shiny bore with strong rifling, no pitting or corrosion, and the following parts match either through assembly number or serial number>bolt, safety, receiver, bolt release lever, lower stock, hand guard, trigger guard, and magazine box. The extractor is not marked, and the firing pin had been replaced at some time. I haven't fired it yet, but based on condition I can see, there shouldn't be an issue. Can anyone out there tell me about what the rifle is worth if I would purchase it in this condition.
You should post some pics of your rifle. I am acquiring several Japanese trainer bayonets, and will be in the market for a type 38 trainer in the future.
 
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