That gun probably shipped in 1950. It will be one of the earliest units produced in the Model of 1950 configuration, also referred to as the Pre-23. This model featured the postwar short hammer-throw action, which distinguishes them as a class from the prewar and immediately postwar long-throw actions.

Many .38/44s were bored out to take .357 Magnum, but that kind of modification is better if left as a quiet conversion. Maybe it's just the collector in me, but I think it's a shame the barrel was restamped after the charge holes were lengthened. This should be an excellent shooter regardless of which round it is fed, but I'm just sad it couldn't stay in its original configuration.

As an unmodified Pre-23, this would probably be at least a $1000 gun. As a modified and remarked gun, it shouldn't bring more than half that. You can get really good 6- or 6.5-inch Pre-27s these days in the $500-600 range. That's the competition for this modified .38/44.

That is probably a 6.5 inch barrel on the gun you are looking at. If it's less, a later .357 Magnum barrel may have been put on the gun. It wasn't clear to me if the current caliber stamp on the barrel is in addition to the .38 Special designation or instead of it. I assume it is an additional mark, but I don't know.

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David Wilson