Blue Book of Gun Values says.....
If this Colt was manufactured in 1916, The Blue Book of Gun Value says:
Colt Mfg. Model 1911 Military - right side of slide marked "MODEL OF 1911 U.S. ARMY", blue finish only (not parkerized unless reworked).
1912-1913 mfg. 100%-$2,900 98%-$1,995 95%-$1,325 90%-$925 80%-$550
Add 10% for the first 114 pistols with oversize "United States Property" marking
Add 75% for pistols in the ser. no. range 115-2,400
1914-1925 mfg. 100%-$2,300 98%-$1,600 95%-$975 90%-625 80%-$525
Over 2,550,000 M1911 pistols were ordered for WWI and WWII by U.S. Government but approx. 650,000 were manufactured between 1911-1925. Those pistols with a parkerized finish will indicate post WWI-reworking, usually marked with an arsenal code (ie AA-AUGUSTA ARSENAL, SA-SPRINGFIELD ARSENAL, etc.) These reworks do not have the same values as orginal, unaltered specimens and prices generally are in the $325-$550 range.
page 416 of the Twentieth Anniversary Edition Blue Book of Gun Values
Hope that gives some insight.
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