Exceptionally clean post-war Walther P.38 chambered in .22 Long Rifle, manufactured by Carl Walther Waffenfabrik in Ulm, West Germany. This is the scarce commercial .22 LR version (not a conversion kit), featuring a lightened slide designed for reliable blowback operation with the rimfire cartridge. The pistol is in super-clean condition with a consistent matte finish on the slide and barrel and a black anodized alloy frame. Markings are crisp, including the Walther banner and "Carl Walther Waffenfabrik Ulm/Do. P.38 cal.22 lr." Serial number 329490 matches the original factory box label marked "P 38 (matt)." Black checkered plastic grips with the Walther medallion are in excellent shape with minimal handling marks. These .22 LR P.38s were produced in limited numbers (estimated low thousands total) primarily for training, plinking, and civilian use. They are significantly scarcer than the common 9 mm postwar P.38/P1 pistols and are sought after by collectors of Walther firearms and post-war German handguns. The matching original box and included magazine add strong value and desirability. CONDITION Super Clean / Excellent. Finish appears original and consistent with only light handling marks if any. Grips show no significant wear. Bore and mechanical condition excellent. Original factory box is present and matching (shows age-appropriate wear on cardboard but retains the factory serial label). One original-style magazine included.