James K said:
The Puma was the alloy-frame .32 caliber version, the Cougar was the steel-frame .380. They date from the 1970's, but both are discontinued.
AFAIK this is only partially correct if you're discussing the .32 Puma version.
This gun was sold in both steel
and alloy frame versions, contrary to some incorrect info published in the
Blue Book and elsewhere.
With the shorter 3.5" barrel that projects only a short distance from the slide, and a 5-digit serial number with no prefix, the gun is most likely an import from before the Gun Control Act went into effect in 1968. The 68 GCA made the Model 70 Puma unlawful to import with its short barrel and a fixed rear sight, so Beretta replaced it with the slow-selling and consequently rather uncommon Model 70T (aka Model 100) with a 6" barrel and an adjustable rear sight. 1966 and later Series 70's have an alphabetical prefix, which was joined in 1972 by an alphabetical suffix indicating caliber, which in the case of a Series 70 would be U = .22 LR, W = .32 ACP, Y = .380 ACP.
Given that the OP mentions that the gun is a Model 70 (no "T") and does not mention any serial prefix or suffix, I think it's a 1966 or earlier gun.
FWIW Beretta transitioned from a grip-mounted crossbolt safety (which most American pistol shooters disdain) to a more conventional frame-mounted up-down thumb lever in mid-1968. This gun presumably has the crossbolt. AFAIK there is no way to change from one to the other.
Loads more info on the Series 70 can be found here:
http://berettaforum.net/vb/showthread.php?t=95801
James K said:
I have seen them sell for $400, which I consider at least $100 too high, but it depends on how much someone wants one.
These guns have a cult following, and their value seems to be on the upswing. However, the crossbolt Puma is just about the most common version, and as with most guns, most common generally equals least valuable. Despite this, I think $400 is reasonable.
HMC8404 said:
Does anyone know how well this gun functions...
James K said:
They are well made guns, but as with any .32 or .380 pistols of that era, reliability should be judged with standard FMJ ammo only.
One of my friends loves how well these pistols shoot- he's a member of the cult.
James offers sage advice. Another hint with old .32's in general- a rule of thumb is
"European pistol, European ammo." American .32 ACP FMJ ammo, which on today's market means Winchester or Remington because AFAIK Federal and CCI/Blazer/Speer don't load it, is loaded fairly weak and frequently fails to cycle and/or feed properly in European pistols. OTOH ammo from European makers- Fiocchi, Geco, Prvi Partizan (PPU), Sellier & Belliot, etc.- generally works much better. I've also had good luck with PMC from South Korea.