By definition, a revolver is not a derringer.
What your friend has is a Model 1, second issue. They were made from 1860-1868. A factory letter would tell you exactly when it shipped.
As to value, the book lists them at $100 for poor condition, going up from there. Most I've seen sell went for somewhere between $200 and $400 unless they were immaculate. That's the range I paid for the two I've got. Mine are great mechanically, and I've shot them sparingly WITH .22 SHORT CB CAPS ONLY!!! If you shoot them with high velocity shorts, they will grenade. The original load was a very light black powder. The only modern loads to use are the ones that only use a primer and a bullet, without any powder. Hope this helps.
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Chris
SWCA #2243 SWHF #292
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