Magic Man, I have a 1911 (built and delivered to Navy in 1912) but haven't a clue what it's worth. It's a shooter. Some guy who probably stole it long ago had gotten rid of all the government markings but probably got scared and put the serial number back on: 71##. My brother (just discharged) acquired it from a recently discharged major in about 1946. I got it in 2008 (traded a 20-gauge Mossberg pump). I was worried about the markings' beng scraped off so I bit the bullet figuratively and called the local ATF field office. The agent was most affable and helpful and told me not to worrry so long as it has a serial number, even one that was "reinstalled." He must have been telling the truth because I had given him my name and have had no unwelcome guests.
I have since had the pistol cleaned, fully (not field) stripped, lubed, and test fired. It passed his tests and fed perfectly, although he said it hit a little bit low and rght (as I recall). I can give you the smith's name and telephone number if you wanted to seriously discuss buying it. He was for many years the gunsmith for Potomac Arms--an Interarmco retail shop right at the interarms warehouses in Alexandia, Virginia.
If you can get a way to me to contact you privately I'll do that. I'd probably want around $350 for it.