Is custom Pre 29 a good investment?

Ripple75 · #1 01-14-2021, 07:44 PM

I have limited funds I can invest in some Smiths. I'd love to pick a gun that would beat the market in appreciation, but even to hold its own would be fine. I want one that is fun to own, look at and talk about.

So, I have an opportunity to buy a pristine Model 29 (S217xxx) - it has all of the right stuff, like 99% bluing and box with tools. The bigger upside is that it has a letter from S&W that it was delivered to Mr. Axe, who was on the Board of Directors and it has his full name engraved on it as well as a gold inlaid front site.

The only possible down side is that it has a 4" barrel instead of the 6 or 6.5" that many collectors want because of the "Dirty Harry" mania.

So ... it would be the most expensive gun in my small collection. Should I take the jump, wait for a 6" Model 29 or maybe find something that is even better all-around investment / fun?

ditrina · #2 01-14-2021, 07:53 PM

One word

BUY!

ditrina · #3 01-14-2021, 07:55 PM

Clam shell case

Coke Bottle Grips

Tools

Two Words

Buy Buy!!

THE PILGRIM · #4 01-14-2021, 07:57 PM

I don’t go with Gun Investing.
Mutual Funds, ETFs, yes indeed!
Having said that, that’s a Beautiful Gun!
Those may be the best loving Cokes I ever saw!
I generally don’t like Names on guns.
But in this case, an Axe Man who was a Smith Director?
And the 4 inch is more desirable than the 61/2.
I’ve never seen a 4 inch pre -29.

Ripple75 · #5 01-14-2021, 07:58 PM

Quote:

Originally Posted by RdrBill

Sir
Guns appreciate over time. How old are you?
Guns appreciate if you buy low and sell high.
S&W guns have gone up in value a great deal recently, we are past the buy low stage.
If that gun is a bargain, buy it and enjoy it as a shooting gun or as an investment, your choice.
The great fun of this game is the hunt.
Bill@Yuma

Let's just say that I am a year or two older than the gun. ;o)

bigmoose · #6 01-14-2021, 07:59 PM

I see upside there for sure. That is a very, very nice package, but impossible to weigh in on its investment aspect without knowing the purchase price. That 4" barrel is certainly not a detriment in my eyes. Good luck.

BC38 · #7 01-14-2021, 08:01 PM

Whether or not it is a good investment depends on the price you can get it for vs. its current market value.
What is the asking price?
BTW, the AFAIK the 4" is less common than the 6" or 6-1/2" so that isn't a negative.
The "Coke Bottle" grips on that one are worth $500-$700 by themselves, depending on condition.

Ripple75 · #8 01-14-2021, 08:01 PM

Quote:

Originally Posted by THE PILGRIM

I don’t go with Gun Investing.
Mutual Funds, ETFs, yes indeed!
Having said that, that’s a Beautiful Gun!
Those may be the best loving Cokes I ever saw!
I generally don’t like Names on guns.
But in this case, an Axe Man who was a Smith Director?
And the 4 inch is more desirable than the 61/2.
I’ve never seen a 4 inch pre -29.

I am starting to get the drift that ... as you all probably guessed ... I just needed a nod from the gallery. I'm going to take the jump!!!!

Ripple75 · #9 01-14-2021, 08:04 PM

Quote:

Originally Posted by bigmoose

I see upside there for sure. That is a very, very nice package, but impossible to weigh in on its investment aspect without knowing the purchase price. That 4" barrel is certainly not a detriment in my eyes. Good luck.

I'm going to do it!

Stay tuned for pictures once I have it home.

bigmoose · #10 01-14-2021, 08:07 PM

WELL DONE, SIR!! That is certainly worthy of the "collection centerpiece" moniker.

Ripple75 · #11 01-14-2021, 08:08 PM

Quote:

Originally Posted by bigmoose

WELL DONE, SIR!! That is certainly worthy of the "collection centerpiece" moniker.

Thanks!!
It will sit next to my Colt Python and my SAA from 1876.

weatherby · #12 01-14-2021, 08:21 PM

I buy quite a few undervalued guns.
It's hard to recommend buying without knowing your starting price.
It's a very nice package if your not buying early.

s&wchad · #13 01-14-2021, 08:28 PM

The axe-man's .44 Magnum???

I wouldn't have to think about it very long...

Is custom Pre 29 a good investment?-img_1362-jpg

delcrossv · #14 01-14-2021, 08:34 PM

What's "wrong" with a 4" Pre 29?!

In any event, the Dirty Harry wannabes won't be your target audience when it comes time to sell it anyway. Serious collectors, to which a letter means something, will be very happy to get a 4 screw 4".

H Richard · #15 01-14-2021, 08:35 PM

You will be paying current value for the gun most probably. It depends on the length of time you have to hold the gun to raise in value. A minimum of probably 10 years might get you a 15-20% increase. But, depending on gun legislation during that time WHO KNOWS.

Plan to shoot it some to enjoy it.

Laketime · #16 01-14-2021, 09:24 PM

Sadly the only Dirty Harry fans are now mostly senior citizens.How long before there are none.The one you are looking will always be in trend .

Hair Trigger · #17 01-14-2021, 09:26 PM

Quote:

Originally Posted by THE PILGRIM

I’ve never seen a 4 inch pre -29.

It's not actually a "Pre M-29", although the OP captioned his post that way. The SN he gives indicates a mfg. date range of 1960-61. Model numbers were established in 1957, with the 1st M29 in 1958. The dash-1 started in 1962, so this would be a "no dash" M29. His is a 3-screw gun, was available mostly with 4", 6-1/2 or 8-3/8" barrels; 5 and 5-1/2" barrels are rare, and only one known "S" prefix M29 has a 6" barrel. (according to the Standard Catalog)

It's incredibly beautiful; OP, has it been fired? If not, I would keep it that way if you buy it. If you want a shooter, keep looking.

Ripple75 · #18 01-14-2021, 09:46 PM

Quote:

Originally Posted by delcrossv

What's "wrong" with a 4" Pre 29?!

In any event, the Dirty Harry wannabes won't be your target audience when it comes time to sell it anyway. Serious collectors, to which a letter means something, will be very happy to get a 4 screw 4".

Really pretty gun!

WCCPHD · #19 01-14-2021, 09:47 PM

Mine is a Model 29 no dash Serial Range 1993XX, shipped December of 1959. Its a four screw and shipped in one of the dark blue/black boxes.

Here's a poor photo (all I have now) of the gun on the box. It is in better condition than the photo shows. Looks like someone put some type of a label or sticker on the box at some time. An interesting aside, I found a similar gun on Gunbroker several years ago and it was one number higher. That gun shipped in a mahagony case. I realize they did not ship in serial number order, but it leads me to believe mine might be one of the last to use the older type box????

GM4spd · #20 01-14-2021, 09:48 PM

It’s a great looking package but the extra letters don’t cut it for me. I’d wait for a clean 6.5”. Never really liked or had use for a 4” M29. But it’s your money —-doesn’t matter what anyone here thinks! Pete

Ripple75 · #21 01-14-2021, 09:53 PM

Quote:

Originally Posted by WCCPHD

Mine is a Model 29 no dash Serial Range 1993XX, shipped December of 1959. Its a four screw and shipped in one of the dark blue/black boxes.

Here's a poor photo (all I have now) of the gun on the box. It is in better condition than the photo shows. Looks like someone put some type of a label or sticker on the box at some time. An interesting aside, I found a similar gun on Gunbroker several years ago and it was one number higher. That gun shipped in a mahagony case. I realize they did not ship in serial number order, but it leads me to believe mine might be one of the last to use the older type box????

That would be so cool if you had the last one that came in the older box!

Tytan01 · #22 01-14-2021, 09:57 PM

Quote:

Originally Posted by Ripple75

I have limited funds I can invest in some Smiths. I'd love to pick a gun that would beat the market in appreciation, but even to hold its own would be fine. I want one that is fun to own, look at and talk about.

So, I have an opportunity to buy a pristine Model 29 (S217xxx) - it has all of the right stuff, like 99% bluing and box with tools. The bigger upside is that it has a letter from S&W that it was delivered to Mr. Axe, who was on the Board of Directors and it has his full name engraved on it as well as a gold inlaid front site.

The only possible down side is that it has a 4" barrel instead of the 6 or 6.5" that many collectors want because of the "Dirty Harry" mania.

So ... it would be the most expensive gun in my small collection. Should I take the jump, wait for a 6" Model 29 or maybe find something that is even better all-around investment / fun?

BUY BUY BUY!!!!

Ripple75 · #23 01-14-2021, 09:57 PM

Quote:

Originally Posted by Hair Trigger

It's not actually a "Pre M-29", although the OP captioned his post that way. The SN he gives indicates a mfg. date range of 1960-61. Model numbers were established in 1957, with the 1st M29 in 1958. The dash-1 started in 1962, so this would be a "no dash" M29. His is a 3-screw gun, was available mostly with 4", 6-1/2 or 8-3/8" barrels; 5 and 5-1/2" barrels are rare, and only one known "S" prefix M29 has a 6" barrel. (according to the Standard Catalog)

It's incredibly beautiful; OP, has it been fired? If not, I would keep it that way if you buy it. If you want a shooter, keep looking.

Good catch! The owner did first introduce it to me as a Pre 29, but your comment made me check the letter again and you are right. It is a no dash and was shipped in 1961. I do like the idea that it has Mr Axe's name engraved, as well as the gold inlaid front site ... but now I am back on the fence again wondering if I am really looking for a 6", which would be more fun to shoot. Fun dilemma! Need to sleep on it. Thanks!

delcrossv · #24 01-14-2021, 10:03 PM

Quote:

Originally Posted by Ripple75

Good catch! The owner did first introduce it to me as a Pre 29, but your comment made me check the letter again and you are right. It is a no dash and was shipped in 1961. I do like the idea that it has Mr Axe's name engraved, as well as the gold inlaid front site ... but now I am back on the fence again wondering if I am really looking for a 6", which would be more fun to shoot. Fun dilemma! Need to sleep on it. Thanks!

Well, I have a 4" and the 6.5" (both Pre's) and I like the 4" better. Just don't lock your wrists.

Hair Trigger · #25 01-14-2021, 10:18 PM

Quote:

Originally Posted by Ripple75

Good catch! The owner did first introduce it to me as a Pre 29, but your comment made me check the letter again and you are right. It is a no dash and was shipped in 1961. I do like the idea that it has Mr Axe's name engraved, as well as the gold inlaid front site ... but now I am back on the fence again wondering if I am really looking for a 6", which would be more fun to shoot. Fun dilemma! Need to sleep on it. Thanks!

I don't expect an answer, but what is the price on that gun? If it's been fired, buy it and shoot it, but if unfired, and you want something to shoot, keep looking. You'd have to go to a Dash-2 to get a reasonable price, the dash-1 is even more rare than the no-dash. If you find a dash-2, the standard barrel length is 6-1/2", changed to 6" around 1979, so the 6" is more scarce (also according to the Catalog).

I have an unfired nickel -2 with a 6" barrel (1979 date); I'd love to shoot it, but don't want to sully its unfired condition. I have a Model 57 I can go bang-bang with, which is close enough for me.

Nedroe · #26 01-14-2021, 10:19 PM

a pre 29 4 inch, 5 screw version from 1957

For several years, I owned this pre 29, 4 screw, 5 incher, April 1958. It was one of 200 4 screws with a 5 inch barrel.

Wish I had kept it.

Ned

arjay · #27 01-14-2021, 11:30 PM

I’d trade my 6 1/2” pre 29 for a 4” in a flash
There’s nothing wrong with downloading for target shooting or plinking at all

Ripple75 · #28 01-15-2021, 12:25 AM

Quote:

Originally Posted by Nedroe

a pre 29 4 inch, 5 screw version from 1957

For several years, I owned this pre 29, 4 screw, 5 incher, April 1958. It was one of 200 4 screws with a 5 inch barrel.

Wish I had kept it.

Ned

Do you still have the 1957? That's my birth year. Would love that.

mh51 · #29 01-15-2021, 01:07 AM

The name of the previous owner can drive the price up quick!! Mr. Axe was an important player in the history of S&W.
If the price is right, and there is some provenance to confirm its history, buy it now and worry about a shooter later!

Marshal tom · #30 01-15-2021, 01:21 AM

I own a first year production 6.5" and a 4 screw 4" from 1959 and I would take a 4" any day over the 6.5" guns. I just like the shorter barrel.

reddog81 · #31 01-15-2021, 01:21 AM

I’d have a hard time shooting a 60 year old collectors piece in 99% condition. If you’re buying it as an investment and shoot it a bunch you’ll be looking at a negative return real quickly.

delcrossv · #32 01-15-2021, 02:42 AM

Quote:

Originally Posted by reddog81

I’d have a hard time shooting a 60 year old collectors piece in 99% condition. If you’re buying it as an investment and shoot it a bunch you’ll be looking at a negative return real quickly.

Dunno. I shoot my high condition guns regularly and they don't seem the worse for it. IMHO, once it has a turn line, it's fair game.
YMMV

bill-in-texas · #33 01-15-2021, 06:58 AM

Steve,
If you can afford it, buy it!
That's a beauty and I'd be proud to own it.
Personally, the engraved name is a "minus" IMHO, although it helps that it's known who the man was and that he was significant to the S&W company.
-Bill

Martya · #34 01-15-2021, 08:28 AM

This Emerson W. Axe was an interesting character.

Emerson Wirt Axe, Economist And Head of Mutual Funds, Dies; Financial Adviser, an Expert on Chess and Wines, Used a Castle as His Office
March 28, 1964

NYTimes obit mentions CoB S&W:

CajunBass · #35 01-15-2021, 08:52 AM

If I had the money to buy it, I'd be on it like a hobo on a ham samich.

Claymore33 · #36 01-15-2021, 10:09 AM

DOES a WILD BEAR poop in the WOODS ?

oysterer · #37 01-15-2021, 10:13 AM

I am taking a different view. Not a collector with the engraving. That's just a shooter and always will be. Mr. Axe is ok but not a celebrity where they is a premium on the engraving.

s&wchad · #38 01-15-2021, 11:49 AM

Quote:

Originally Posted by mh51

The name of the previous owner can drive the price up quick!! Mr. Axe was an important player in the history of S&W.
If the price is right, and there is some provenance to confirm its history, buy it now and worry about a shooter later!

Amen!

His obituary makes a great read.

Emerson Wirt Axe, Economist And Head of Mutual Fands, Dies; Financial Adviser, an Expert on Chess and Wines, Used a Castle as His Office - The New York Times

Ripple75 · #39 01-15-2021, 12:42 PM

Quote:

Originally Posted by mh51

The name of the previous owner can drive the price up quick!! Mr. Axe was an important player in the history of S&W.
If the price is right, and there is some provenance to confirm its history, buy it now and worry about a shooter later!

That's what I am thinking too. Oh no!!! That means that I am now in search of a nice Model 29 shooter. Maybe one from 1957 - since I was born that year. Actually anything 29-2 or older that is mechanically sound. looks decent and has the original box.

Ripple75 · #40 01-15-2021, 12:48 PM

The obit is a great read. What an interesting guy!

Art Doc · #41 01-15-2021, 04:15 PM

In general the shorter the barrel the higher the value.

rubiranch · #42 01-15-2021, 04:43 PM

Not everyone who likes a 6.5" M-29s, or my 29-2 are Dirty Harry wannabes.

It makes the perfect big brother to my 6.5" M-27.

rubiranch · #43 01-15-2021, 04:48 PM

Quote:

Originally Posted by Claymore33

DOES a WILD BEAR poop in the WOODS ?

Yes they do.

Neversink n Klapperthal · #44 01-15-2021, 04:57 PM

very nice. The barrel is a post 1969, note the small "&" between smith & wesson. Older barrels had a larger &

Doc44 · #45 01-15-2021, 06:10 PM

The barrel on the Model 29 is correct. In 1961, S&W used the upright ampersand on some barrels. I know it is confusing, but the barrel is correct. The photo below shows the roll mark on a Model 29 shipped in May 1961.

Bill

Neversink n Klapperthal · #46 02-23-2021, 04:43 PM

Quote:

Originally Posted by Hair Trigger

I don't expect an answer, but what is the price on that gun? If it's been fired, buy it and shoot it, but if unfired, and you want something to shoot, keep looking. You'd have to go to a Dash-2 to get a reasonable price, the dash-1 is even more rare than the no-dash. If you find a dash-2, the standard barrel length is 6-1/2", changed to 6" around 1979, so the 6" is more scarce (also according to the Catalog).

I have an unfired nickel -2 with a 6" barrel (1979 date); I'd love to shoot it, but don't want to sully its unfired condition. I have a Model 57 I can go bang-bang with, which is close enough for me.

Wise move. I have N unfired 1956 in the black box.You wouldn't believe how many people think I should take it out and shoot it

Ripple75 · #47 02-27-2021, 02:11 PM

Which gun to buy? I got some great advice from both sides, as well as the obvious third choice, which was to buy both of them.

I took my own path and bought THREE pre-29s and a a 629 no dash.

With interest rates at zero and 44s real collector items, I really had no choice!

But ... I've told my best friend "Please don't let my wife sell my guns for what I told her I paid for them."

Narragansett · #48 02-27-2021, 02:26 PM

Quote:

Originally Posted by Ripple75

Which gun to buy? I got some great advice from both sides, as well as the obvious third choice, which was to buy both of them.

I took my own path and bought THREE pre-29s and a a 629 no dash.

With interest rates at zero and 44s real collector items, I really had no choice!

But ... I've told my best friend "Please don't let my wife sell my guns for what I told her I paid for them."

And when do we get to see the pics??

Ripple75 · #49 02-27-2021, 02:42 PM

Soon ... I promise ...

BigBill · #50 02-28-2021, 04:06 AM

I don’t look at guns for an investment. I think someone’s name on a gun is a turn off.