The 38 caliber S&W are made to shoot to point of aim with 158 gr standard velocity rounds. If you are using 125 gr or +P rounds they will shoot low. If you are never going to sell it, and will never use anything but the lightweight high velocity rounds in it you could file the front sight down, the metal is soft enough for a standard file. But first make sure it is the gun, not just your wife pulling it down or seeing the sight picture incorrectly. Have a known marksman shoot it from a rest to find out.

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H Richard
SWCA1967 SWHF244