.32-20 HE

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A date for serial number 128xxx would be?
Middle of the 20s ,, is my Guess. 1925-26? (more) help will arrive to your thread, We love the Winchesters. Personally I struggle with an O-sea-D disorder BECAUSE of them.
She "should be wearing round top (beautiful) wood stockings! with diamonds!

VALUE
Serial Number and Caliber make your pistol desirable to Many but you've provided no photos.
The difference between Good & Very Good is where the spread of my price range originates.
My opinion of a Very Good Winchester Model would be 7-$850 the same pistol in Good 5-$600.

IF by chance,, your Winchester is equipped with Target Sights. $3000 probably wouldn't be out of the realm of reality.
 
Here is mine, shipped October 1921 per S&W Historian. Condition is everything, especially with these real oldies. The ammo is extremely hard to find and quite expensive when you do. I don't reload, but I sure save the Starline brass that my HSM factory ammo is made with.

For value we definitely need some pictures. Mine was $400 at the time a few years ago if I remember correctly.

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In the early 1920s, S&W changed the right side barrel caliber stamping from ".32 WCF" to ".32-20 CTG". My 6" .32-20 HE, aka Model 1905 4th Change, is ca. 1924 (s/n 118705). 1905 4th Change revolvers were manufactured from 1915-1940 with 4", 5", or 6" bbls. I'm thinking that yours was manufactured sometime in the early to mid-1930s, and its value would depend upon condition and features. Pictures would certainly help to better ID your revolver. Enjoy!
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From about 1922-23 until the end of production (1940) - 32-20 CTG. was stamped on the right side of barrel. Before that, it was 32 WCF. It is impossible to determine value without good images to study. Standard 32-20 M&Ps sell for anywhere from $300 to $600 today, while target guns sell from $600 to $1500 typically. I have one in 111,000 serial number range that shipped in August 1924 with a 32 WCF stamping. I would estimate this one is in the $1500 range.

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.32-20 number 127612 shipped in May 1927.
128840 shipped on June 27, 1925, BUT that one is a target model chambered for the .32 Long cartridge (yes, it sometimes happened).
.32-20, a 6" target model, number 130146 shipped on September 22, 1926.

In any case, yours at 128159 probably left the factory in that time frame (1925-1927). They did not ship in serial order.
 
In the early 1920s, S&W changed the right side barrel caliber stamping from ".32 WCF" to ".32-20 CTG". My 6" .32-20 HE, aka Model 1905 4th Change, is ca. 1924 (s/n 118705). 1905 4th Change revolvers were manufactured from 1915-1940 with 4", 5", or 6" bbls. I'm thinking that yours was manufactured sometime in the early to mid-1930s, and its value would depend upon condition and features. Pictures would certainly help to better ID your revolver. Enjoy!
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1930 pistols ,, will probably have silver medallion stocks.
And the patent stamps appear First,, ?1928 ? on hammer & trigger.
The low serial number range of the 32-20 gets Very small ((I believe )) and MOVES very slowly after the hammer & trigger stamps ,, start to appear.
Also by the 30's the Mushroom is gone.
I've found 32-20s started getting H&trigger stamps in the, 135,xxx ish range.
 

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Mine has a interesting story at least to me.
My dad saw a classified ad in the Miami News in 1939 for some guns for sale.
He and my uncle (dads' brother) went to the seller's home and the guns were on the dining room table for viewing . (Imagine that today! )
My uncle bought the 32/20 HE and my dad bought a JM Marlin rifle.
After Dec. 7 ,1941 dad volunteered himself and his 32' motor cabin cruiser "Lenape" for the Volunteer Coast Guard mosquito fleet out of Biscayne Bay. His service date was February 2, 1942.
He needed a handgun on board, so he and my uncle swapped the S&W for the Marlin.
I remember the Smith HE had a US surplus 1917 holster my uncle had purchased somewhere.
Four or five nights a week, the "Lenape" left the Miami, 2nd Ave. bridge dock on the Miami River at 12PM with my dad at the helm and one or two armed Coasties.
The Guardsmen had 03 Springfield Rifles and 1911's and they cruised upper and lower Biscayne Bay to Key Largo & Jew Fish Creek to Fowey Rocks Light and Hawk Channel Passage.
According to the "Lenape" Log they did this until August 1942 when the volunteer service was phased out.
I still have this gun which has uniform brown finish, no pitting though it spent months onboard
in a saltwater environment in a leather flap holster.
The gun still shoots and still has fine action. I treasure owning it and telling its history.
I attribute the S&W 32/20 HE to my passion to collect WW1 & 2 bring back's, Police Duty and
WW II War contractor guard service guns.

Of some minor note: the grip brass escutcheon screw corroded and wrung off and I replaced it
20 odd years ago. I acquired the Smith in 1971 and no longer store the gun in the US service holster in over 50 years.
 

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