That is a pre-1928 cut barrel 32 Hand Ejector. First thing to determine is if the pin is working properly. It is spring loaded, so just pushing it from the rear and letting it go will determine if it is binding. Oil it if it is working properly and try the next step.

The next thing to look for is a bent ejector rod. Does the pin "seat" into the knob when you rotate the cylinder? If so, open the cylinder looking from the front and watch the knob as you rotate the cylinder. If it wobbles, the rod is probably a little bent. It would simply need to be straightened, but remember that that ejector rod is hollow and very thin.

If the rod runs true, the yoke (crane) is bent. You first have to determine what direction it needs to be straightened by looking closely at the location of the pin in relationship to the hole in the knob. If the knob is left or right of the pin, that is the direction the yoke is bent. Up or down means the yoke is very slightly "racked".

Depending on your skill level at disassembling the ejector rod and cylinder, and performing some slight bending of the yoke, the job is can be done at home with some care and repeated assembly/disassembly. One needs to do this while the yoke is still on the revolver. After removing the cylinder and ejector rod, take a long rod about the diameter of the ejector rod hole and, after securing your revolver frame in a vise, you can apply pressure to the yoke. This will re-align the hole with the pin. Do this in very small steps until your pin drops into the ejector hole.

If you are not comfortable doing this kind of work, it should be off to the gunsmith or look for a replacement crane for your revolver. Numrich has them, but they are not cheap. ebay is another place to look for early I frame yokes. Keep in mind that you have a $150 gun, so the yoke at Numrich is half the value, but if the sentimental value is higher, by all means get it fixed.

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Gary
SWCA 2515