Here's a couple pics of two first model HEs I picked up over the past couple of years.
The one with the 4.25 inch barrel serial number 59XX was delivered to Wyeth Hardware & Metal Co. St. Joseph MO on August 9, 1901.
The one with the 3.25 inch barrel serial number 13XXX was shipped to Hartley and Graham Co. NYC on September 26, 1896. On the left side it is engraved "E.V.H. '96" My factory letter states that the pearl grips and the engraving were probably added by Hartley and Graham for a customer. Both left the factory as nickel but were both shipped with hard rubber grips so the pearls were aftermarket but probably from the period as they are genuine and fit very well to the guns.
When I bought the monogramed one one I was first skeptical of the engraving being from 1896 because the serial number on this gun is higher than that of the one that was shipped in 1901 (I had already had a factory letter on the first one when I bought the second). So I'm assuming S&W manufactured all of these frames around or before 1896. If that is the case I'm assuming all of these first model HEs are considered antiques. Thanks for looking.