If the serial number on the butt has been made illegible the gun is not legal to possess per the Gun control act of 1968. It maybe possible that the number you see stamped on the grip frame was done by someone with permission from BATF. Maybe not. If a new number is stamped per BATF, I am not aware of any paperwork needed to retain. It is not an original number as all serial numbers for quite some time prior to the introduction of stainless guns had a letter prefix. Some models do have the serial number in the yoke cut, but it would not be 034.

If you were ever stopped with it and serial number checked it could be a problem. The obscured original numbers would cause suspicion I am sure.

I was at a pawnshop in Billings MT and they had a 32 S&W had the serial number over marked then a new one stamped. I asked about it and was told it had been done by the sheriffs dept. I walked away. ONe reason was the possible hassle. I don't need any gun hassles.

Any way you can trace the history of the ownership?