Nice nickel tip-up. I have several of these and fortunately also have lots of Navy Arms 32 rf to shoot.
Early S&Ws used random markings on all major parts of guns as assembly numbers. I just think the worker who put this one together decided that a couple of ampersands would be interesting to use. Assembly numbers had nothing to do with the serial number in early S&W models, I have 1 1/2s with numbers, dot punches, letters, etc. all used as assembly aids.
I have one short barreled 32 rf that has a star behind the serial number, indicating it went back to the factory for repairs. Inside the grip frame was a month and year stamp indicating the date it was returned. The marking on your barrel looks more like an asterisk, but have no idea why it was stamped?
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