Yes. All 79K serial numbers were issued in 1980. It would be a Model 14-4.

And +P ammo will be just fine in it. The gun won't know the difference, although you will feel the recoil more and it will sting your wallet a bit. For accuracy, you might be better served by using 148 grain match wadcutter ammo. But your K-38 Masterpiece will digest handily any .38 Special factory ammo sold today.

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Jack
SWCA #2475, SWHF #318