is a round shaped area of wear with a few pin holes in the center which I'm guessing might have been from a badge or pin of some kind. with a mark above it which looks to be two crossed rifles. Regarding the holster, it is not dry rotted.
The mark begins with what appears to be a Z.
On the other side, besides the serial numbers, which appear two places, on the barrel and near the trigger, there is some sort of mark stamped in two places in the shell discharge area. WALTHER (within a scroll) Waffenfabrik Walther, Zella-Mehlis (Thur.) Walther's Patent Cal. There are no scratches or blemishes to speak of anywhere on the gun. Regarding the extent of bluing loss, there is slight loss at the end of the barrel and in the trigger area. Click to expand.Ok, I now have the gun in front of me so I can give you more detailed info.