I feel the Military 1911s were ridden hard. And the Commercials had it soft(not the holster wear or harsh environment conditions) that the M1911s had. This is when they served and Collectors love this aspect. Where a condition freak likes the soft life Commercials. So it depends on your personnal interests. Most surviving M1911s are part of collections as are rare Commercials so good luck to you. You must have more input for an accurate value assesment. Original or refinish and finish rating on an original finish are the biggest ratings. Then originality of internals, magazine and, grips is second.
I don't know why, but I have never seen a pre-War commercial that was in as good a shape as half the military guns I've observed. Maybe the fine-polished Colt blue finish was a lot less durable, maybe nobody outside the Army knew what cotton rags were for, whatever. I just picked up a Colt Hammerless .380 (1915 mfg.) in excellent mechanical shape, but the outside blue is almost all gone. It was obviously carried a lot more than it was fired.
Anyway, if anybody has a nice old commercial Colt of any kind in 95+% condition I wanna see a photo of it. I almost forgot what they're supposed to look like.