Just won the auction for this New Model 3 with a bead front sight. Its very much like the one in the thread below from a few years ago.
New Model No. 3 - some questions
It looks like a NM3 target to me. The serial number falls in the transition zone from short strap frames to long strap frames. Wish mine had the really rare front sight like the one in the thread link above. That one has the Paine Bead, Modified for Shot sight which I have only seen in the thread above on a real gun.
I don't have the revolver in hand yet so I can't verify if its in 44 Russian or 44-40.
Whats interesting is they have the same type of markings on the bottom of the grips. Its almost like they were once together and that was a quick way to tell them apart. The serial numbers are only 49 apart.