I have a little cash available and thinking about investing in a registered magnum but don't know enough about them to make a smart purchase at the moment. Any sites or books that are current? Can someone please send me in the right direction? Thanks

Lots of postings about RMs here and on other sites. Just search. Exactly what is it you want to know? If you want an investment, look for a pre-war unregistered magnum. I think there were only about 1100 or so of those made, vs. about 6600 of the registered magnums.

You are in the right place already.Use the search function,spend a fair amount of time reading and come back to the forum with your questions.Some of the most knowledgable collectors in the hobby frequent this forum.Get yourself a copy of the Standard catalog of Smith & Wesson as a starting reference,pay attention to the RM posts with emphasis on great guns and ones not so great,ex: poor refinish etc.Go to David Carroll's web page for The Ray Cheely collection,pictures and prices of some of the best registered magnums available.Join the S&W Collectors association for additional knowledge and suppot.Using a quote you will later become familiar with"I hope that this helps".

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SWCA#2288
SWHF#407

RMs are scarce, but I did run across one this weekend. But it was in bad shape with a poor aftermarket nickel plating. Most of the stampings were polished off, and there were timing problems. Not investment-grade.

I hope you have more than a "little" cash.

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Tom
NRA Pistol Inst

Thanks Dwalt and Dave... I started a collection recently and it is clear a collector should have a reg mag. One of my sources (local FFl) suggested I find one and it makes sense given I love S&W... I suppose the problem again as I mentioned to my friend at local FFL this isn't like picking up a used Model 27.. There is a lot to know.. Dave I did take a look at David Carroll's stuff. The collection looks great but I am even more confused given my lack of knowledge... I like extremely great condition pieces from a collector position... I think they are the best investment but I really like shooting too.. In this case with a RM if I can find a very good investment grade gun as a none shooter it would make sense...

Tread very carefully here, because a small misstep could cause you to spend a great deal of money for a gun that might not be what you thought it was. Your best bet is to buy only from an established, reputable dealer, and even then, investigate the gun thoroughly. Or buy from someone who is very well known on this forum, like David Carroll or another member of the S&W Collectors Association and/or S&W Historical Foundation. Absolutely steer clear of Gun Broker or other 'faceless' on-line auctions.

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"We deal in lead, friend."

Get the book by T. J. Mullin called "Magnum, the S&W .357 Magnum Phenomenon." That would be a great place to start.

Get ready to pay some big bucks with little return unless you make a game of it and search gun shows, pawn shops and yard sales... find a deal and bring it here and show it off!

You're probably a novice entering the arena full of wolves. Be very careful you don't get skinned. The first rule is that all the easy money has been already been taken. There are no cheap magnums these days. Nearly everyone knows what they are and over values them.

You can educate yourself on the values just by taking the time to see what the sellers are asking. That may be high because everything may be negotiable. But its within 10%. Then I have no idea what you expect. You're going to be buying at what is now the top of the market. Yes, the price could again double overnight, but probably not.

As for how many were made, don't believe the numbers being tossed about. We've studied the information available, but those of us who have played in the market don't really even know what a Registered Magnum is. We can't decide. And we mostly don't agree with Roy's definition because its not a thing you can determine on your own. He says its not an RM unless it was actually registered with S&W. Makes a lot of sense, but a very low number actually had the post card returned.

Something we do know is S&W did number a bunch of frames with "REG xxx". That number is in the low 5000s, like 5300+. After that, they stopped numbering them and we get the Non-RMs. But another ugly twist is that S&W deeply discounted a whole bunch of guns with an RM# stamped on them. Roy says those are not RMs because they weren't eligible for the registration program. So at least the 4 or 5 hundred guns that went to KC alone need to be subtracted out. And then there were the export guns that also don't qualify (and maybe or maybe not have a number on the frame.)

So the bottom line seems to be that if you follow through with your investment plan, you'll be dumping a bundle in a gun. You're right to want to learn all you can before you spend. I'd advise you to get your hands on a copy of Roy's 1989 SWCA article on the subject. Its still the bible we all depend on. Don't just read it, memorize it. There was a reprint made in the summer of 1990 and published in the G&A handguns annual. It does have some differences from the SWCA article, and I suspect it was errors by the editor and probably not Roy's work.

Being a true believer, I do buy all the gun rags that purport to have a new article on the subject. Most commercial magazines are just pretenders. This forum has much better information and some collectors who've been working the subject for a long time.

You can obtain an RM for around $3000 or so, up to well over $30,000. You do need a good idea why you are buying it. Particularly if you're at the upper end of that range. Or even if you're just in the $10,000 range. Those guns need to come with their/a box. And the letter and even the registration certificate. All those little things like a sight adjuster add to the total. Buying an RM in todays market isn't for the weak of heart or those poorly financed.

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Dick Burg

Amen! In addition, purchasing your first pre-war 357, can spark addictive behaviors that you never knew you possessed. So...proceed with caution and ENJOY THE JOURNEY - it's a fun ride. Here are a few that have made their way into my safe.

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Richard
Engraved S&W fan

Looks like you have established a 12 step program for the addiction! happiness abounds!

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Halfway and one more step

Dick - Thanks for the detailed response - Well appreciated..
Richard - Terrific pictures..
Richard - I think the addiction has already hit with a few other revolvers. Part of the collecting aspect that most do not understand is proper collecting is a lesson in history and our community. It not always about the item.. Dick - I am definitely a novice and I hear the wolves. This being said, I refer to good people and experts hence this reach out effort for knowledge. I have found the gun community to be a group of ethical people with of course some exceptions, but it clearly is a community like this forum. I'm learning... Top of the market... Yes, but what I have learned is the best examples of anything are always valuable providing the item is treated kindly with respect and enjoyed. Deals? I think seller are in general educated in this market and they know what current value is or should be at this moment. I'm going to take your advice and that of WLP624 starting with an established dealer. I have a budget of about 10 so we will see what is out there and of there is anything in that price range that works. I really appreciate all the input and when I actually find something it will be shared and posted... Thanks all..

"If you don't know diamonds, know your jeweler."

If you don't know Registered Magnums, know your vendor.

Get to know David Carroll----sooner rather than later!!

Ralph Tremaine

Thanks Ralph

The advantage of David Carroll is you can just call him on the phone. If you tell him one of us sent you, he'll be pretty cordial if you sound half way intelligent. And yes, he has them in stock. He also sold of most of my collection of 34 & 1/2 of them. The collection he's working down now was just spectacular. One of our posters, Blake, took a cell phone photo of the display at the Louisville show (I know, its not within the rules, but we didn't care.) You can probably find it using the search on "Gunshow report".

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Dick Burg

You have received very valuable info. The most important info. is don't buy a reg. magnum from gun broker unless you have seen it. At the very least get as many pictures and info. as possible. And have a 3 day non firing inspection. Good luck.

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Tom
NRA Pistol Inst

David had a good many RMs for sale at the KC SWCA meeting. They were spectacular! They were priced at the high point, but they were pristine. Even if you do not buy one of his, just analyzing the differences in barrel lengths, sights, boxes, accessories, etc. that affects the price will provide a lot of intelligence for your research and purchasing preparation.

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Richard Gillespie
FBINA 102

Ok -Been at it for a week now... This is not going to be all that easy.. Looked at David's inventory.. From 80 revolvers he is now down to about 9 left from the original collection. Not sure one of the remaining ones are going to work given I want a complete package (paperwork all correct related accessories). The remaining items are great but apparently not complete.. No sure yet but will continue the research and learning curve. This is going to be much tougher then I originally thought... I'm starting to understand the journey... Interesting experience... Thanks everyone for the great info and will keep you posted.. When I finally find mine - Will post...

As is typical of David's guns. They aren't cheap, but they are always right, and they are always exactly in the condition he describes them or better. I suppose there is a certain premium for the trust factor, but you are always certain what you are getting with him, and any surprise will be that the gun is even better than you thought it would be.

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Peter
S&WCA #2620

Good luck, sir! That sounds like an amazing hunt that I wish I had the funds to pursue myself.

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Peter
S&WCA #2620

Thanks Peter... Should have started 10 years ago!!

Boy, ain't that the truth!

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Peter
S&WCA #2620

Happy New Year... First, I want to thank everyone for the amazing amount of help provided. It has been almost 5 months and I finally did it... I found an RM. I took all your advice and rolled around with it for a while. In the end I took Ralph’s quote literally, ""If you don't know diamonds, know your jeweler" and engaged the help of an expert (including the direct help of a Forum member - you know who you are) that sold me a few other beautiful firearms that overtime has become a friend, someone I can trust and mentor in the end locating an amazing gun for me. No, it wasn't cheap and no it is not that hidden treasure that has been missing in someone's garage, but it is a very special significant piece and without question at the top of what was a modest collection here in Cali started just over a year ago. The interesting thing is in addition to the RM. I also picked up three other revolvers from the same collector, one extremely unique and extremely significant with the other two just flat out a gift (rare and hard to find) insofar as rounding out my new collection. So the end result is I finally sent for my C/R and my COE last week. With some luck in addition to getting these revolvers in my hands quicker hopefully, I can now free the prisoners sitting in the conga line at my LGS or affectionately referred to as “Gun Jail”. Thanks again and in time I will post some pictures… Big L

A happy ending!

Have you joined the SWCA yet? It sounds like you need all the support you can get!

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Alan
SWCA LM 2023, SWHF 220

One step at a time Alan!!! Don't forget I live in a blue State. My family and friends they are already have concerns I am in need of mental help... I told them it is just a bug and get over it.. Thanks...