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S&W Hand Ejectors: 1896 to 1961 All 5-Screw & Vintage 4-Screw SWING-OUT Cylinder REVOLVERS, and the 35 Autos and 32 Autos


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Old 08-16-2013, 09:39 AM
Frank from Bozeman Frank from Bozeman is offline
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would like to know the value of my gold plated Model 1903 would like to know the value of my gold plated Model 1903 would like to know the value of my gold plated Model 1903 would like to know the value of my gold plated Model 1903 would like to know the value of my gold plated Model 1903  
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Default would like to know the value of my gold plated Model 1903

I have a gold plated model 1903 in .32 long that has been in my family since it was new. The grips appear to be mother of pearl. When I checked the history several years back, I believe the report said the gun was factory plated and had been returned for replating in the 1950s. About 50% coverage remains.

Can someone help me put an approximate value on this revolver, and identify a good place to sell it?

Thanks.
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Old 08-16-2013, 10:46 AM
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Value is ruled by condition. We would need several very clear close up photo's from all directions in order to evaluate it.
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Old 08-16-2013, 11:29 AM
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And verification that it went back to the factory for re-finish like the date on the grip frame under the left grip panel or a star by the serial number on the butt. Are the hammer and trigger also gold plated?

The best place to sell it is right here on this forum or an on-line auction if you can't determine a value to your satisfaction. Either way, producing the "report" you reference is absolutely required to have with the gun to obtain maximum value.
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Old 08-16-2013, 11:45 AM
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The critical thing is to have a factory letter, stating how the gun was shipped, in
terms of the finish. Presumably, there will be a stamp on the grip frame, of
something like 6.50, meaning a return to the service department in June (6) of 1950.
There might also be marks like <S>, or <G>, or a P with a circle, or perhaps some other
marks, on the grip straps, and possibly on the flat under-side of the barrel.

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Old 08-17-2013, 08:53 AM
Frank from Bozeman Frank from Bozeman is offline
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Default thanks for your help

Guys-

Thanks for your inputs. I'll dig up the factory letter (it is filed away somewhere in my papers), take some photos, and send an updated post within a few days.

In the mean time - the hammer and trigger are not plated, and I don't see a star on the bottom of the frame. Condition-wise, the screws are perfect, there is one small corrosion spot on the cylinder, there are no scratches or other damage.
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Old 01-08-2014, 11:25 AM
Frank from Bozeman Frank from Bozeman is offline
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Default factory letter for M1903 gold plated

I dug out the factory letter dated 11-18-1982 regarding my 1903 Hand ejector revolver. (It was in a box buried behind our Xmas decorations in the crawl space).
I believe the gold plating is original factory, and the gun has not been refinished. A copy of the letter is attached. Any ideas on the current value?

Thanks.
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File Type: pdf Smith & Wesson letter 11-18-82.pdf (54.5 KB, 403 views)
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Old 01-08-2014, 11:50 AM
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Hi Sir very neat letter.
I'm sorry I can't help you with value but pictures would be a must for trying to determine that.
That is quite the heirloom being in the family for over a century
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Old 01-08-2014, 01:56 PM
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I will tell you one thing....It is worth more than $375 now.
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Old 01-08-2014, 02:53 PM
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Interesting gun. The factory production records ( not shipping records, but production records) show serial number 14158 as being made on March 5, 1903, as a blue gun. Look at the serial number stamped on the bottom of the barrel to see if a very small "B" is stamped before the number. That "B" indicated the gun was originally a blue gun. If it was shipped on the date cited in the letter, Aug. 30, 1911, then it stayed in the factory inventory for 8 years before being gold plated ( plated or washed?) to fill what was probably a special order. Delays of several years between manufacture and shipping is not uncommon for some models of Smith & Wesson. Gold plating and/or gold wash finishes were not standard production guns and most of the time blued guns were taken from inventory and refinished to fill an on order for a gold finished gun. - Your letter is over 30 yrs. old and I would suggest you request a new and updated letter, as additional information could now be in the records that was not included in the original letter's search for shipping info. Ed.
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Old 01-08-2014, 07:16 PM
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Do your MOP grips have a S&W medallion? Irrespective of the value of the gun, those could be just as valuable. Roy's letter does not mention the grips. Like Ed said, I would get a new letter and perhaps the grips could be validated as original factory issue.
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Old 01-08-2014, 07:27 PM
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It's completely worthless. Not even worth the value of gold in the plating.

In fact, I know someone who can melt it down for you and get you about $50 for the gold scrap value.

Send it to me, I will front the $50 to you and take care of the rest.


LOL. Nah, man I have no idea, but it looks like you're getting some sound advice here!
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Old 01-08-2014, 09:40 PM
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Quote:
Originally Posted by 05CarbonDRZ View Post
I will tell you one thing....It is worth more than $375 now.
Well, I disagree here just how much this firearm is really worth. Yes, the gold plating does add value, but significant value only if a high condition firearm. This firearm is at 50%. Unfortunately, the Model 1903's just are not that valuable. I know of one for sale locally at $175 in 80% condition with NO takers. This is a $125 gun as a 50% firearm as blued; with gold plating and 50%, triple it at $375 and this would be well over full retail!!! This is not a $375 gun unless the gold plate was nearly 100%; if that were the case, it would be well over $375. The Model 1903's just don't have the collector appeal in my neck of the woods.

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Old 01-08-2014, 11:22 PM
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Quote:
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I know of one for sale locally at $175 in 80% condition with NO takers.
Go buy it and sell it on Gunbroker for a $75 to $100 profit. I follow as many auctions as I can and to find a Model 1903 selling under $200 is getting darn near impossible.

The lowest price of about 20 sold recently on GB for this model is $260 for a poorly buffed and reblued gun.

Here is another that sold for $275.
SN 155XXX MOST OF THE FINISH IS GONE, REVOLVER DOES FUNCTION WELL, GRIPS ARE IN GOOD CONDITION WITH NO CRACKS OR MAJOR CHIPPING.

I do kind of agree with the half gone gold finish. I would not want it and probably would prefer a 50% blue gun as a shooter.
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Old 01-09-2014, 12:03 AM
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Let us not forget that this is a family heirloom. Much of the value of such guns is in the family ownership, not the gold finish whether 100% or 50%. You could not buy one of my grandfathers guns that I hold in my collection for any money. However, it looks like the OP wants to sell.
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Old 01-09-2014, 01:42 PM
Frank from Bozeman Frank from Bozeman is offline
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Here are some photos that may help. There is no "B" on the serial number on the bottom of the barrel.

Thanks for everyone's comments.
Attached Images
File Type: jpg grip detail LR1.jpg (242.7 KB, 158 views)
File Type: jpg left side LR1.jpg (176.0 KB, 177 views)
File Type: jpg right side LR1.jpg (192.1 KB, 171 views)
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Old 01-09-2014, 01:48 PM
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Default Your gold-plated S & W

Thanks for the pictures. A nice gun! My opinion is that it contains 40 or 50% gold plating with original mother of pearl grips. My estimate is revised upward from my previous post, but I don't know by how much???

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Old 01-09-2014, 02:24 PM
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Those appear to be original S&W pearl grips. They're valuable but I can't tell you how much since I haven't seen any sold lately. My gut tells me any estimate I give would be too low. Without them, the gun is just another old .32 Hand Ejector.
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Old 01-09-2014, 02:40 PM
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Good pictures. If you were interested in selling the revolver, I would think that you would get $350, if sold with those stocks. The condition is problematic and I do not think the gun was gold plated, but rather a thin gold wash was applied and the 32 HE was used or carried extensively. Another option is one that may well get you more money. If you purchase a pair of used hard rubber I frame stocks, the gun should sell for $250 and the pearl stocks sold seperately could bring $250 to $300.

Some will say the stocks should be kept with the gun, but depending on how much you need to get for the revolver, that is your decision. If others in your family are interested, I would try to pass it down the line as a rememberance of your ancester.
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Old 01-09-2014, 02:40 PM
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Quote:
Originally Posted by Wiregrassguy View Post
Those appear to be original S&W pearl grips. They're valuable but I can't tell you how much since I haven't seen any sold lately. My gut tells me any estimate I give would be too low. Without them, the gun is just another old .38 M&P.
+ 1 Wiregrassguy! That's what I was trying to say in previous posts, but just did not get the words out right. The Model of 1903, when it comes to Smith & Wessons, is not all that valuable, in a relative sense. Gold plating, if 90%+, would make this a spectacular firearm. In its current state, the gold plating adds a slight premium, but not much (but more than being 'just another' S & W). The value, in my opinion, IS in the grips. So, I am going to hazard a guess here, and this is just a guess: $125 to $150 for the firearm, independent of the gold plating, maybe a slight premium for the gold plating (due to condition issues). The grips, on the other hand, are the true value of this gun. Maybe over $200. Total package now at $350 or so. Maybe my estimate on the grips is even low. Comments anyone?

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Old 01-09-2014, 04:42 PM
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Is it common for factory nickel/gold finishes guns to have the hammer and trigger plated? Or is this a sign of a non-factory nickel/gold re-finish? Factory nickel only plated guns have case hardened hammers and triggers.

To achieve maximum value from a prospective buyer they will need to know if there is any factory re-finish information on the left side of the grip frame under the MOP stock, like a star and/or date stamp.
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Old 01-09-2014, 04:44 PM
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I would come at the question of value from a different angle. First, I think the gold wash, which is clearly thin and has been significantly worn away, is of negligible value as gold and even as a symbolic upgrade to this particular revolver. It looks to me as though there is a fairly good nickel finish to the gun under the vanishing gold, and the pearl stocks are in good shape for their age.

I would think an early nickel Model of 1903 in pretty good shape and with hard rubber stocks would be fairly valued at about $350-400; the pearls push it up into the $600 range. After that, it's up to the buyer and the seller to put a value on the gun based on the perceived rarity of the configuration. There is no catalog of reasonable values for a gold-washed standard revolver, but putting a little bit of gold over an ordinary commercial product does not automatically create an item of great value.

As a point of historical interest, the receiving company (G. Amsinck & Co., not Amsinck G.) was one of several companies owned by the prewar conglomerate (as they were later called) IAC, which was active before and after WWI. Its business practices were not completely wholesome, and it was widely believed that some of its companies were fronts for foreign interests not necessarily friendly to the United States. Amsinck, with connections to Germany, was rumored at one point to have been engaged in intelligence gathering operations in North America, for example. A little internet research will lead you to some interesting stuff. Here's a taste from the NY Times in 1917:

BUYS OUT CONTROL OF G. AMSINCK and amp - CO. - American International Corporation Takes Over Firm Mentioned in Bolo Pacha Case. - View Article - NYTimes.com

(My browser opens that up without asking for payment, but I think some forum members have hit paywalls on other news archives.)

Amsinck was in the prewar years in international import and export, but it doesn't look as though firearms were part of their usually business; or maybe I just didn't look hard enough. I would guess the gun in question here might have been bought for an official of the firm, or the official's wife or girl friend.

I am always sorry to see a family heirloom leave its home of many decades, but understand there are valid reasons why such a decision would be made.

EDITED TO ADD: Jim, if this is a refinish it is a pretty good one. I don't see a sideplate gully or any evidence of heedless overpolishing.
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Old 01-09-2014, 04:55 PM
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WOW,36 million bucks in 1917 that was quite the company.
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Old 01-09-2014, 05:05 PM
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Quote:
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It looks to me as though there is a fairly good nickel finish to the gun under the vanishing gold, and the pearl stocks are in good shape for their age.
I think you could have bare steel under the gold wash??? If the factory were to use a wash, I would think that it would not to it over nickel?? Don't know, but I thought all types of plating would only be applied to bare metal, just wondering if someone knows the answer, since the surface of this gun has more of a clean steel appearance instead of a nickel color.
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Old 01-09-2014, 05:09 PM
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I think you could have bare steel under the gold wash??? If the factory were to use a wash, I would think that it would not to it over nickel?? Don't know, but I thought all types of plating would only be applied to bare metal, just wondering if someone knows the answer, since the surface of this gun has more of a clean steel appearance instead of a nickel color.
Good question, and I don't know the answer. I sure thought it looked nickeled, but maybe I was fooled by the direct lighting.
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Old 01-09-2014, 05:59 PM
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Gold plate must be plated over nickel, tin, silver and some other metals. To plate over steel, it must be nickel plated first (like chrome). So, the plating underneath is likely nickel. Caswell makes some gold, silver, nickel and copper plating kits that can be used to fix plating blemishes. A simple battery charger and electrolyte can be used to remove the gold plate that is on the gun...or restore it.
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Old 01-09-2014, 07:04 PM
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I like it! Thanks for sharing the letter and posting the pictures.
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Old 01-09-2014, 07:34 PM
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Gold plate must be plated over nickel, tin, silver and some other metals.
Makes sense to me. I know that steel bumpers used to be plated with copper before chrome plating. Just did not know about gold wash. I did find that gold wash refers to a gilded layer with a thickness less than 0.2 micron. Gold plate is thicker - typically not less than 0.7 micron.
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Old 01-09-2014, 08:27 PM
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Bright chrome or triple chrome has a layer of copper followed by nickel followed by Chrome. All of which are brightly polished and that's what makes it bright chrome.

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