Sidearms & Scatterguns Colt Pre-70 1911

[Strangedays]

Hello,
I have someone wanting to trade my rifle for a pre-70 Colt 1911.
Gun looks really good but was wondering from those who have them anything I should look for other than condition of the overall gun?
Is $1200 a good deal on one?
Here are the details on the gun,
Make- Colt
Model- 1911 Government Model (Civilian)
Year of Manufacture- 1950
Barrel- 5" (Full size)
Magazine- 7rd (Original I believe)
Grips- Swirled plastic Colt-wood (Original)
Finish- Highly polished blued
Overall Condition- Very Good with some finish wear

 

[2Shots]

I think most collectors called that a colt commercial, made for the civilian market. It looks like average condition to me. Probably worth that money, I'm sure others on here will know more.

 

[Unknown]

Check for beginnings of a crack around where the dust cover meets the thicker part of the frame on the inside. Usually something like Kroil will seep through and show it. From the side I can see, it looks really good, but I would check down inside the frame.

Also check all the safety, and trigger parts to insure that they work properly. If they don't it isn't a deal killer, it just means you have to get it fixed. I don't worry so much about little internal parts like that even if they need to be replaced, I just want to know if it is going to cost me more after the purchase.

Check condition of the bore. I would suspect it is fine based on the outside of the pistol, but check anyhow.

Check to see how tight or loose the lockup is on the barrel/slide. Again, it isn't a deal killer, I would just want to know.

Check the barrel link for cracks.

Look under the grip safety, and insided the pistol for hidden rust. I sort of doubt you will find much, but check anyhow.

Take out the firing pin, and extractor to check for wear, rust, or other problems. It wouldn't kill the deal for me, I would just want to know what I'm getting into.

If you are getting it because you like the pistol and want to keep it, the price isn't nearly as relevant as if you are getting it to resell and make money on. I have traded for firearms that were less than what I traded just because I wanted them. My former partners revolver was one of those. He didn't care about it, but he carried it for years while we worked together, so I was happy to get it even though what I traded was worth more money. He and I have done trades like that favoring either one of us though.