.38 Military and Police, also known as the Model of 1905, Fourth Change. 1927-28 sounds about right for that serial number.
Those are not the original stocks on the gun. I suspect that is a synthetic or composite ivory material.
The gun looks to be in OK shape, judging from the finish. Does the action feel smooth? Do you plan to shoot it? If so, you should probably check it out thoroughly before sending a bullet down the barrel.
This model is not rare. S&W made over 700,000 of these before WW2, and then about a million more during the war. But they are definitely rich with history. That's a nice catch.
EDITED MOMENTS LATER TO ADD: OK, Mike beat me by a few seconds. But I'm glad to see my comments confirmed by someone who knows a lot more about S&Ws than I ever will.
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David Wilson
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