Yours is a S&W .38 Double Action (DA) revolver, 4th Model. Indeed these are very common, with well over 500,000 made in 5 models. These do not have significant value unless in top condition. It uses .38 S&W ammunition, which remains available, albeit somewhat difficult to find. You should have no hesitation in shooting it with modern factory-loaded ammunition, which is loaded very lightly. In fact,the modern factory ballistics are a little less than the original black powder loadings.
Yours is from about 1896-97, and is therefore legally an antique (pre-1899), not a firearm. It is exempt from firearms laws in most jurisdictions. Just for reference the highest antique serial number for this model is 382,002.
Last edited by DWalt; 10-24-2013 at 11:37 AM.
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