Thanks for all the comments everyone, I didn't mean to start an ideological war on guns. Most of the comments are reaffirming what I've been thinking, ditch the pistol and pocket the cash.
It's somewhat difficult to admit, but in the event of a home invasion, I likely wouldn't be able to use it in an effective manner due to the minimal amount of practice I've had with it. Thus, I would probably be better off not having one at all. Yes I could practice more and take classes, but truthfully I don't have desire to do so. This coupled with the fact that I have a wife who suffers from depression, it seems like a no brainer. What am I waiting for?
Maybe I can help. I'm a recovering gun addict.
Guns, when sold do not depreciate by age like cars or homes. If it's in good condition, it should sell for what you bought it for. If you are willing to hold out for the right buyer, you should get almost all your money back.
Guns, when stored and used properly are not a danger any more than a kitchen knife or garden shears. If your wife has depression, I strongly suggest that you get a good lock box and lock them all up except the one you are carrying.
Guns require practice. a .45ACP 1911 specifically requires practice. It's not a .22LR. You don't have the desire. That is the final straw for me-like people who drive only as a way to get somewhere, but are totally uninterested, so text or watch a movie while they drive- if you are going to own one, you should know how to use it and be practiced.
Regardless of what you do, you need to lock it down when you aren't carrying it.
If you want to sell it, I'm interested.
If you want to keep it, you need to take some classes.
Don't feel too bad about the price. You learned. I have a fancy-pants Springfield EMP that was $1299 MSRP.