Most original Victory revolvers were either a 5 inch barrel in 38 S & W caliber (British Service Revolvers) or the 4 inch barrel in 38 Special (US Service Revolver). There were a very few 2 inch barrel 38 Special revolvers made. Most Victory Revolvers came in a flat finish and were not polished (visible machining and tool marks etc). The original grips are smooth walnut (non-magna). There are also some "pre-Victory" British Service Revolvers that were polished blue with standard (checkered) non-magna grips. Revolvers marked "FTR" are those that have been rebuilt by the military.

There were many 5 inch 38 S&W revolvers that were sold surplus by the British after WWII and many of these were modified with cut barrels and some were rechambered to allow use of 38 Special. These modified British Service Revolvers are much less valuable than original unmodified revolvers. Some may be unsafe to shoot due to a loose chamber size.

Original US Service Revolvers with all matching numbers (including the grips) are usually the most valuable and most costly.

It is safe to use modern ammo in these revolvers that are in the original caliber (not rechambered), but Smith & Wesson recommends against using +P.

Values are all over the board based on condition and rarity. I have seen shooter grade British Service Revolvers in the $200 range and original US Navy marked Victorys for $600 and up. The very rare original 2 inch barrel guns require a Smith & Wesson factory letter for authentication and these can sell for more than $1,000.

Hope this helps.

Steve