Chief,

First, let me say that there are a number of guns that might be labeled as "Model of 1950". The first thing to determine is what is the caliber. It could be either . 38 Sp., .357, .44 Special, or .45 ACP. That serial number would probably put it in the 1955-56 era.

One thing that concerns me is that you said that it has a half moon front sight and adjustable rear sight. The front sight that you describe would be on a military model (with a fixed rear sight). You need to be sure that someone hasn't modified the gun by adding an adjustable rear sight. If that was done the collector value would be considerably less than you mentioned.

Bob