That serial number would date to the mid-1920's. I think I'd rate the finish a little higher than 50%, but it's a shooter grade gun. Also, this is a target model (adjustable rear sight, patridge front) so I'd seriously that it was ever an LE sidearm. Target models of that era are actually considered 'scarce', and $350 is probably not too bad if there are no mechanical issues, but I'd try to get it for $300....
Mark
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