A buddy of mine up in the Seattle area called me yesterday and told me that his father showed him an old S&W top break revolver. I have not seen photos but his description tells me it is most likely a New Model 3 chambered in the scarce 38-40 caliber.

He also told me that the number on the butt is 11 so obviously a very early Model 3.

His dad has given him pretty much all of his guns over the years, including a U.S. Schofield so when his dad pulled this one out of the dresser the other day to show him he was surprised.

I am guessing if it's in good shape it's worth a bit of change.

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Tom Graham SWCA #2303

I hope this story continues.

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Mike 2796
SoFo Bunch member

If it is a top-break it is either a NM #3, (74 made) or a 38 Winchester Double Action (276 made). All manufactured in the 1900 to 1910 period.
In either case, very very rare.

This is one of the ones that stymied me when I was trying to assemble a collection of at least one of each chambering S&W had made a revolver in. The 38/40 and the 44 Henry Rim Fire, plus a couple of other obscure British chamberings were the only ones that eluded me..... I knew where a 38/40 was, but the owner wouldn't let go of it. (At least not at a price I could afford....)

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Dean
SWCA #680 SWHF #446

This is likely #11 of 74 (as I recall)-------a free standing series, both fixed and target sights---all in 38-40. I'm quite certain you'll find them mentioned in SCSW---probably as a footnote rather than a separate listing.

On the other hand, I have a NM #3 Target (#3914, shipped October 25, 1902) chambered in "38 WINCHESTER CTG"--as stamped right on the barrel. It's a good thing it's stamped on the barrel, because nobody would know what it is otherwise. It letters as a mystery gun, which is to say the factory records contain no mention of the caliber-----only that "It appears to have been a special order for one unit and the revolvers in this serial range are all .38-44 S&W cartridge revolver." (sic) It (the letter) also says, "Sorry we cannot solve the mystery."

I got it from David Carroll, who told me it's the only one he's ever held in his hands; but he's heard of 2 or 3 others (in the NM #3 Target series).

Bottom Line: It's clear the fellow who bored the holes in it knew what bits to use----and equally clear nobody else cared what the caliber was----just ship it and get the money. It is the way of the world----most of it anyway.

Ralph Tremaine

And if those mentioned by "deadin" (above---who types a bunch faster than I do) are "very very rare" (and they are), then this one is very very VERY rare.

And, as usual, I got something wrong. Up there where I said you'll probably find them (the 74 guns) mentioned in SCSW----probably as a footnote: WRONG!! They have their own separate listing: SCSW 4, page 121, right hand column-----but at least I was right about there being 74 of them .

And as an aside, I SUSPECT, but do not KNOW, we will find other NM #3's in 38-40 scattered here and there in the regular NM #3 series (but obviously later on----long strap guns). I suspect this only because it makes some sense. The 38-40 seems to have been the rompin' stompin' hot rod cartridge of its day, and then as now, there were those who wanted the baddest they could get. And as Mr. Roy has told me every time I wanted to know about some weird something: "They (S&W) would do anything anybody would pay them to do." (I had never fired a 38-40 until awhile back when David Carroll and grandson stopped by for a visit on their way to the Smokies for some bear watching. Upon arrival, David announced he had brought some "neat old guns" and some ammo;---and suggested we "shoot it up". Sounds like a plan! I mowed off a shooting lane, and we had at it. One of the "neat old guns" was a big old Colt DA hand ejector of some sort----in 38-40. He handed it to me along with a box of ammo. All the other guns went bang---and recoiled as you would expect. The 38-40 went CRACK!!!!!-----and JUMPED!!!!!! I was duly impressed!! I still am.)

I'll take it. PM to follow.

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James Redfield
LM #497

I am trying to confirm if this is a Single or Double action to help narrow this down. And if I can get photos, even better.....stay tuned!

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Tom Graham SWCA #2303

Let us know when you confirm it is a New Model 3 Single Action and the verified caliber, matched numbers, chamfer, stamps etc, etc. It would be a very nice find.

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ANTIQUESMITHS
LM1300 SWHF425

I have a brand new NM #3 4" barrel in .38 Winchester that belongs to Roy Jinks. I'll be bringing it to the meeting in Charlotte next week.

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Don Mundell

Received a message this AM and have confirmation that it is indeed a Single Action revolver. Still trying to get the barrel length and some photos from my friend. But sounds like a desirable piece.

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Tom Graham SWCA #2303

About all I know about a 38/40 is that if it is anything like a 44/40, it will be a PITA to reload. The case neck is so thin that it is really easy to "accordion" it when seating the bullet.

BTW, you're friend wouldn't live around South Bend WA would he??

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Dean
SWCA #680 SWHF #446

Dean,

My friend lives in the Entiat area, along the Columbia River between Wenatchee and Chelan......his dad lives someplace in the Seattle area.

Yes, the .38 and .44 WCF rounds are no picnic to reload......but they are fun to shoot!

Cheers,

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Tom Graham SWCA #2303

The 38/40 I had my sights on belonged to a guy in South Bend.

As far as I know he is still there, but was/is not the type to give anything away...

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Dean
SWCA #680 SWHF #446

When you happen upon something so scarce, if it check out to be all original and correct, I cannot fault the seller for seeking a fair price, even if that price seems high to some potential buyers, "the" guys that really appreciate it will pony-up the $.

It all depends on what the two people dealing agree on as "fair" at that particular time, place and current economical environment.

I always believed scarcity and condition, as well as desirability precluded any "book" price.

Past, verified sales are a good indicator but cannot always be relied upon. Auction sales sometimes tend to spike way out of control and / or beyond the realm of sanity.

What would something be worth if there were only .... say 5 known, verified originals of a very low production number ?

It is situations like this that you have to go to your "gut" common sense and collecting passion to determine what a fair price is and if a deal can be struck.

The only wild card in this instance is an auction. You never know what can happen if the right gun pops up at a good auction where it was publicized well. It can go way out of the ballpark or the seller could get "skinned".

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ANTIQUESMITHS
LM1300 SWHF425

See Post #13.

Note the wisdom of one who's been there, done that, and "gots" the T-shirt.

Ralph Tremaine

That makes at least 3 in Washington State, as I have #32,lettered as shipped 1903 61/2"/blue