Generally I don't care for commemorative guns however today I was given the opportunity to purchase a beautiful 29-3 Elmer Keith commemorative with ivory grips and wooden presentation box.

The box is missing the key and any paper work but the gun is absolutely spot less with no sign of a turn ring. The serial number starts with EMK00XX.

I know this is a special gun and probably well sought after. For about the same money I could buy a nice shooter grade snake gun.
Is this 29-3 likely to increase in value and exactly how desirable are they. I've never been one for safe queens but this one is just too nice to shoot therefore it's only purpose would be as a investment piece.

Thoughts, comments, suggestions please.

Thanks

Don't know about the Elmer Keith Commemorative but I am in the process of trying to buy a Mod 19 6" '200 Year LAPD' commemorative from a pawn shop where I live and they will not budge on the $800 asking price. It appears to have been fired but very little and is in very nice condition but this particular commemorative has little to no bearing on the value (some have said a detractor actually) but regardless it is a nice 6" mod 19 - but not at $800.00!

Ivory grips add significant value to an otherwise nice M 29.

You could always sell the grips seperately.

I am not a collector, so you can take what I say with a grain of salt. It's too bad that you don't have the key and paperwork, but the revolver in the condition you describe with the ivory grips and case has to increase in value. Elmer Keith is a legend. I personally have never been able to keep guns that I could not, or should not shoot, but if you want a very nice piece to enjoy owning and watch it appreciate, this should be a good one.

No pic no gun

My humble opinion also. As for collect-ability, I believe your gun is from a run of 2500. The lower numbered guns and those with Ivory grips probably more desirable. Having the paperwork, key and original cardboard box would help also. I don't know what you paid for it so I can't say whether it will increase in value......but a run of 2500 means they're not rare. From my experience most commemorative guns do not increase in value any more/faster than the same standard model unless they were actually owned by someone special and one has the provenance to prove it. A while back, a gun similar to yours was once offered for sale @ auction that had the serial number EMK0002 and had been presented to the Keith family from S&W. That one probably went for a good price. There's one similar to yours but without Ivory Grips, but with everything including original paperwork on Gunbroker and it's not getting bids higher than a standard 29 from that era.

It's a nice gun and is worth to you what you think it is. As for making big bucks on it, only time, the economy and the future interest in guns will determine how much, if any, it appreciates. Until then, appreciate your find.

I suspect other guns would make better investments.

Yup, it didn't happen.

Nice gun, but unfortunatly the Gold will wear of if you shoot it.

That said, I would shoot it I shot my 25-3 125year commemorative
and the the Gold text faded away.
But it was fun shoting it,

and a 4" .44mag is a hoot to shoot

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Commemorative guns were made to be instantly collectible. Sadly, it is the other way around, they become even less desirable. Certain commemorative guns will be sought after more than others due to the nature of the piece, but in general they do not appreciate like regular guns.

Not being a complete package will hurt it too. I would pass on it. For the money, find a LNIB 29 regular production from the same time and buy that. Unless you just truly love EK and want a keep sake for your own enjoyment.

Elmer Keith passed in 1984(?) and this commemorative came out shortly after his passing. They haven't risen in value much since they're not P&R. Elmer has been gone at least 32 yrs. and many people today never heard of him. His heirs sold off his personal guns in a James Julia auction about a year ago. Some brought big money and you could check the auction house data base to see what the model you have sold for. My sense is these guns are not appreciating much.

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Bob.
SWCA 1821