S&W made a blue million of them. Its not a rare or even scarce gun. Yes, $500 is pretty high, particularly one that doesn't have the box and stuff. I'd think $400 would still be high and maybe in the $300s a fair price. Its your money so do as you'd like. A better approach would be to scan the gun shops to see what is out there.

Maybe I'm wrong because adding in the original box will still not make this gun very desirable or a collectors item. Before the OP buys, I'd suggest he look at ammo availability and prices. Once he decides he's got $500 to spend on a gun, he'd be better advised looking at a 38 Special for the same price and where he can get ammo at reasonable prices.

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Dick Burg