Yup - 38 S&W is the caliber. The 1st & 2nd Model 38 DA had the same internals, but the 1st had a straight cut sideplate that the factory found weakened the frame.

The gun has been re-nickeled as evidenced by the trigger and hammer, both were case hardened originally. Cheap is relative and in the condition the owner received the gun may or may not turn out to be a good buy. A non-working refinished 38 DA always sells cheap, since there in no collector demand. The 32 & 38 Double Action revolvers remain one of the lowest valued S&W ever made, partly due to the large numbers of both production and surviving. I do own a few and they are great fun to shoot at the range and will gather a group of plastic gun owners who have never seen one before.

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Gary
SWCA 2515