The S&W First Model, AKA .38 Hand Ejector, Model of 1899, can always be visually distinguished from the later K-frame revolvers as there is no locking lug on the barrel directly ahead of the extractor rod. First Models are often missing the knob at the end of the extractor rod, and they are difficult to find and expensive to replace, so see that yours does not get lost. If in any reasonable condition and without any mechanical problems, a minimum $500 value is not at all excessive. These are historic revolvers, the very first of the long-running line of K-frame S&Ws, and made by the millions. It almost certainly shipped from the factory in 1900. If it is in operable condition, it could be fired, but I would recommend against it. As earlier stated, any broken parts are almost impossible to replace without having them custom-made. And that is expensive.