"The V in the serial number making it victory model would have originally been a 38 frame?"

Yes, this is a K frame. The Victory models came in two configurations- a 4" .38 special, intended for the US military or for civil defense here in the US (plant guards and police); the second was a 5" in .38 S&W, intended for troops from the British Commonwealth.

Victory models were the wartime production of the .38 Military & Police revolver. All were built during the war years of 1942-1945.

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John 3:16
WAR EAGLE!