P-38s are neat. Different, but neat.
AC is the code for the Walther factory. 44 is the year of manufacture.
Serial numbers will follow the standard German pattern of repeating 4 digit blocks with a letter suffix, starting at the beginning of the year.
Grips will be bakelite (an early form of plastic) and be either brown or black.
Black grip guns are sometimes called "Black Widows" but that is a American made up term to get a few more $ for a "special variant".
Import markings (name & address of importer) mean the gun was imported into the US for commercial sale after WWII. After 1968 the marking was required, but many guns got marked before that.
SA trigger pull is usually pretty heavy and DA trigger pull makes you wonder if normal humans were actually expected to use it. Very heavy.
DO NOT USE +P AMMO!!!!!!!!!!!!!!!
The gun MAY not feed anything but 115/124gr FMJ ammo.
The Walther safety system can break in "just the right way" so the pistol CAN FIRE when the safety is put ON. It's rare, but it CAN HAPPEN. ALWAYS, ALWAYS point the pistol in a safe direction when putting the safety ON!!!!
One last point, rather unique, and almost never mentioned (it was a surprise to me when I shot my AC42), the P.38 ejects to the LEFT.
Authentic original holsters are expensive, several hundred dollars in their own right. Post war holsters look the same, and are much, much cheaper. SOME
"genuwyne authentic Nazzi holsters" are faked, modern reproduction with fake Nazi markings. If you're looking to get a period correct original holster, and someone has one for sale at collector prices, DO SOME RESEARCH before plunking down the cash.
The Luger is the iconic German military pistol, Used by Imperial Germany in WWI, and Nazi Germany in WWII. Production of the Luger ended in 1942. The P.38 was adopted in 1938, and produced through the end of the war (45), making it, to me the iconic Nazi pistol.
If your gun has been "arsenal refinished" it is likely one of the "Russian capture" guns. The Soviets captured large numbers of German weapons, and refinished many of them, putting them in warehouse storage after refinish, to await some future use. With the fall of Soviet Communism, lots of these guns have been imported into the US. Look closely at all markings, and especially for any sign of electro-pencil engraving of "serial numbers". Many "matching number" guns were created in Soviet workshops, by engraving new matching numbers on parts. This does lower the collector value, compared to an original matching gun.
P.38s are neat guns, the pioneer military DA semi auto pistol, and deserving of a place in any collection that includes the WWII period.
ENJOY!!!