Welcome to the Forum. I am going to be contrary here, based on a couple of pictures, but I think you have a refinished S&W New Model 3. I took the liberty of enlarging a couple of troubling areas in your pictures.
First, is what looks like dishing around the sideplate. These parts were originally fitted while on the frame, leaving only a trace of a seam visible. Second, the hammer stud looks flat and it should be rounded and the pin hold below is dished with what looks like micro-pitting around the pin. Other opinions will come along and I would be happy to be proven wrong. Since it is a family heirloom, the condition does not matter much if you are going to pass it on to a family member down the road.
It is a very uncommon revolver with both the target sights and the spur trigger guard, but there is another image of the same model target revolver with the spur trigger in Roy Jinks book Smith & Wesson 1857 - 1945. I think a factory historical letter would be warranted, since many factory target revolvers were ordered by individuals and sent directly to them. Factory records would record who ordered the revolver. If it is in 44 Russian, chances are that it was manufactured the 1st year of production - 1878.
Check the left side of the butt-frame under the rubber stock for a set of numbers and does it have an asterisk near the serial number indicating a factory return and maybe a factory refinish?
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Gary
SWCA 2515
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