I noticed the same thing about the extractor rod, but the pictures were not good enough for me to make a good determination. And certainly the grips are postwar. That front sight style is probably early 1950s.or later. Everything points to its being a possible factory rebuild on an older frame. That is why I mentioned the star stamp. Also might check to see if there is a date stamp on the grip frame.
Appears the revolver went back to the factory for service in October 1954. Front sight indicates the barrel could be a replacement from that period and numbered by the factory. Grips are probably from a later M&P C series revolver. Cylinder could also be a replacement. My best guess is that the original revolver was one of the South African BSRs, and the frame was later fitted by S&W with a .38 Special barrel and cylinder. Extractor rod has knurled tip and is definitely post-1947. Any other guesses?
FWIW, here is my South African lettered gun. The lanyard hole had been plugged and it was wearing some K frame Targets, but otherwise unchanged. No proof or import marks at all.
So, a nice gun, likely an interesting back story, not a white glove safe queen and no boutique caliber. Good score, I think.
Probably not "worth" a $100 letter, in that it won't be worth a hundred bucks more, but why not confirm it for not much more than a tank of gas? Then you might score the invoice where it was rebuilt in 1954. It still won't be worth a hundred bucks more, but it'll be so much more interesting.
Besides, it's not my money, so spend away!
That is precisely what steers the direction of my own accumulation...I agree whole heartedly, it's not necessary the money value I just really enjoy the research and historical aspect.
If you do order a letter, you might post it here just to close the circle. Interesting that a previous owner would go through the trouble to rebuild a BSR when he probably could have bought a nice condition used .38 Special M&P cheaper.