M34 value questions

[TTSH]

While in my continuing quest to find a really, really nice 4" Model 15-(something) at a price that won't break the bank, I stumbled upon a vintage 1959 2" Model 34 (no dash) in nice shape for its age with box et al. Price wasn't crazy high, but not super-attractive either. It was about what I'll probably end up paying for my planned Model 15-(something) acquisition.

Grips looked good as did the bluing. Front sight had been painted, but I can deal with that. No pitting or corrosion anywhere I could see (a big plus!). Only real issue was that the sideplate had been very slightly buggered (i.e., distorted) at the top, most likely during a less than perfect removal & replacement process. Disappointing, but not all that uncommon for a revolver of its age.

Checking the usual places for clues about value, I noticed that the flat-latch 2" M34 (no dash) doesn't necessarily bring as much money as a 2" Model 34-1 with the more common cylinder release thumb piece. While condition ruled (actual selling price-wise), this was not a case where older (in the same condition) was necessarily more valuable. That said, most of the Model 34 variants I found on-line were not nearly in as good a condition as the one in my local shop... so I'm not sure if one can draw any hard conclusions from that data.

Questions:

1) In the opinion of the S&W vintage revolver experts here, what should a 2" Model 34 (no dash - condition as described above) be going for these days?

2) In the same basic condition and all other things being equal, which is considered more valuable? A Model 34 (no dash) or a Model 34-1?

I think I may go back and make an offer, but this is not my best area of expertise. Thanks, as usual, for any & all help.

[JP@AK]

First off, the only difference between a "no dash" Model 34 Kit Gun and a -1 is the frame size. The -1 is a J frame with a slightly longer cylinder window. So, it is beyond me why a -1 would cost a penny more than a "no dash" in the same condition. And given many collectors' preference for older over younger, one would expect the "no dash" to be a bit more, if anything. But there is no way to account for variations in price in today's market. It all depends on who is buying and when. Etc.

Personally, I love the Kit Guns in either the 2" or 4" barrel, and with either the square or round butt configuration. We (Deb and I) own several, some I frame and some J frame. Some round butt and some square butt. All are wonderful shooters.

And by the way, the flat latch lasted into the J frame period. It didn't go away until 1966.

The only hesitation I'd have on the one you described is the distortion of the sideplate. I'd have to look at it very carefully before I'd buy it and would probably pass anyway. Kit Guns aren't all that hard to find.

As for price, the range is quite wide. I've paid as little as $450 and as high as $800. It is all about condition and how badly you want one.

Good luck.

[JP@AK]

Here's a photo of two of mine.
Top: 4" nickel round butt Model 34-1;
Bottom: 2" blued round butt Model of 1953

[ken158]

You don’t sound as if you really want it but may buy it because...? (Ya know, they made a bunch of these...). If you noticed the sideplate issue on first examination, you will never get it out of your mind... you didn’t say, but a round butt 2” has always trumped a square butt 2” and would be considered more valuable. Without pics, and based seeing the sideplate, I’m thinking $400.

[Hondo44]

Nice find!

The slightest prying to get the side plate off will put a little wrinkle in the upper edge of the side plate.

1. The 2" Model 34 is a little scarcer than 34-1s especially if it has a square butt. The model 34 was only made about two years and the 2" wasn't a high seller in those early years. A package as you describe if in 90% or better can usually fetch in the $1000 ball park at auction from a collector. They have been found occasionally between $4-600 w/o box, etc., in a small local shop or from an unknowing private seller, but that's unusual these days.

2. The model 34. Collectors recognize the uniqueness of the Model 34 which is built on the Model of 1953 NEW I frame, while the 34-1 is built on the Model of 1953 NEW J frame. Much of the market demand for a Kit Gun is not collectors and who think they're both J frames. So they wind up paying more for a newer 34-1 because they're easier to find in good condition.

Hope that helps,

[TTSH]

Originally Posted by JP@AK

First off, the only difference between a "no dash" Model 34 Kit Gun and a -1 is the frame size. The -1 is a J frame with a slightly longer cylinder window. So, it is beyond me why a -1 would cost a penny more than a "no dash" in the same condition. And given many collectors' preference for older over younger, one would expect the "no dash" to be a bit more, if anything. But there is no way to account for variations in price in today's market. It all depends on who is buying and when. Etc.

Personally, I love the Kit Guns in either the 2" or 4" barrel, and with either the square or round butt configuration. We (Deb and I) own several, some I frame and some J frame. Some round butt and some square butt. All are wonderful shooters.

And by the way, the flat latch lasted into the J frame period. It didn't go away until 1966.

The only hesitation I'd have on the one you described is the distortion of the sideplate. I'd have to look at it very carefully before I'd buy it and would probably pass anyway. Kit Guns aren't all that hard to find.

As for price, the range is quite wide. I've paid as little as $450 and as high as $800. It is all about condition and how badly you want one.

Good luck.

Thanks very much Jack. It looked like a J-frame to me at the time, but I had nothing to compare it to. Interesting that the flat latch lasted until 1966. I wasn't aware of that. Seems that every Model 34-1 I found had the later, more common thumbpiece.

I should have mentioned that it is the square butt version... and yes, absent that slightly buggered-up sideplate, I would have made my offer right on the spot. With that issue, I thought I'd better check with the experts first. Thank you!

[TTSH]

Originally Posted by ken158

You don’t sound as if you really want it but may buy it because...? (Ya know, they made a bunch of these...). If you noticed the sideplate issue on first examination, you will never get it out of your mind... you didn’t say, but a round butt 2” has always trumped a square butt 2” and would be considered more valuable. Without pics, and based seeing the sideplate, I’m thinking $400.

Didn't mean to sound indifferent. I've had a 2" compact .22LR revolver in the back of my mind for a long time. Almost ended up with a Ruger LCR a couple times... there were some great deals locally on used ones... but I passed for other guns higher on the Want List.

This one I found is a square butt. Don't know if that will present a problem in terms of finding some suitable rubber grips. The buggered sideplate is what it is. Trust me, I would not agonize over it or search in the night for a fix. I only bring it up because I think it would/should affect the value a little (or maybe even a lot?). I care about not over-paying even if this is to be a utility gun, not a safe queen.

[TTSH]

Originally Posted by Hondo44

Nice find!

The slightest prying to get the side plate off will put a little wrinkle in the upper edge of the side plate.

That's a much more accurate way to describe it than my "buggered up"! Thank you.

Originally Posted by Hondo44

1. The 2" Model 34 is a little scarcer than 34-1s especially if it has a square butt. The model 34 was only made about two years and the 2" wasn't a high seller in those early years. A package as you describe if in 90% or better can usually fetch in the $1000 ball park at auction from a collector. They have been found occasionally between $4-600 w/o box, etc., in a small local shop or from an unknowing private seller, but that's unusual these days.

2. The model 34. Collectors recognize the uniqueness of the Model 34 which is built on the Model of 1953 NEW I frame, while the 34-1 is built on the Model of 1953 NEW J frame. Much of the market demand for a Kit Gun is not collectors and who think they're both J frames. So they wind up paying more for a newer 34-1 because they're easier to find in good condition.

Hope that helps,

It does. Thank you. As usual, I should have taken a couple photos. I did note the serial number in order to check its vintage, but it turns out that was hardly necessary with the short production run.

Assuming I can get the paint off the front sight, the side plate "wrinkle" is the only flaw. There is no holster wear or corrosion that I could see... grips are nice and it is in its original factory box with all the factory stuff.

While this was not the pristine perfect Model 15 I went looking for, it wasn't a bad find for a day out gun shop hopping. There are so few vintage .22-.38 S&W revolvers for sale in my area that it makes me wonder where they are all hiding.

I'll let you guys know if my offer is accepted! Thanks again!