Gator, have you shown that adjustable-sight .32 before? I don't recall it, and I'd hate to think my memory couldn't hold on to something like that if I had seen it. Can you share the serial number, or the first part of it?

Looks to me like that gun does not have a stud for the trigger rebound slide, which makes it an early Model of 1903. I have heard about two other adjustable sight four-inch .32s from that era. In general, target I-frame .32s were blued guns except for a few of the very early ones. S&W eventually adopted the policy that they would not provide a target revolver with a nickel finish, but there are a few from the early days. I have a nickel six-inch gun target shipped in 1904. The four-inch specimen is very cool. S&W made very few of those through the decades. In my opinion they should have made more.

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David Wilson