Like most things there are exceptions, I still go with the idea that when the frame has a serial number, is assembled, it's test fired, put in a box, and is ready to be sold it is born and "alive" and is a real firearm no matter when it is sold, It's my opinion that some First Model 1891's were made and sold after 1898.

Many times the gun is sold years after it is made, some just don't sell as fast as others, I know the accepted way of dating a S&W has been by the shipping date but does that mean it is correct for all S&W's, I think not.

One good example is a bunch of "new" never sold before S&W M-1940 Light Rifles I had bought in the 1970's, just because they were sold in the 1970's and may letter as being shipped in the 1970's most know that they were not made in the 1970's.

This is not just with S&W's, it happens with most large Manufacturers, very few if any make guns in numerical order and sell them in numerical order in the year they were made.
H. M. Pope