Age of Gov't 1911?

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Speedo66

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Friend was given a 1911 made by Remington Rand, Ser. # 1507xxx. It's in extraordinary condition, matt finish, almost zero wear anywhere, including barrel tip, marked gov't property. Magazine is marked Colt on base plate. Came with Boyd leather holster from the 40's.

Anyone know how old it might be and willing to hazard a ballpark figure on value?
 
Excellent info, thanks!

Do you think a Colt branded magazine might have been original to gun, or did RR also manufacture magazines? Grips are plastic, plain, rather than wood.
 
Thanks again. He has a web magazine holder with it with another mag. That chart should enable him to see if it original.
 
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