Your hypothesis did not occur to me, but certainly sounds viable!
My 952-1 is an extremely early one, by serial number, it is KAZ-042x.
This ends up being at least a little interesting in that out on the internet, you might find a S&W factory letter dated Sept 9, 2009 and signed by Mr. Jinks where he tells us that the no-dash 952 was made to 400 units carrying the serial range of KAZ-0001 to KAZ-0399 specifically for Bangers in Alabama (product code 170168) and he goes on further to say that more no-dash pistols were made, and these were not Bangers exclusives, and these were made in the serial range of KAZ-0404 through KAZ-0459. He describes them as the same as the initial run, but with a new product code (170220.)
As it happens… this is a mistake as I own KAZ-042x and it is indeed a 952-1 and also does have the grip safety/firing pin lock that the 952 no dash pistols does not have.
Roy claims in the letter that the 952-1 pistols began at KAZ-0461 and ran to KAZ-1735 and he ends the letter with 1735 units of the blued version of the 952 of all variations.
-NOT- to nitpick or further nitpick, but for the sake of info, I think it’s interesting to note if you’ve ever seen the owner’s manual for a 952-1 or 952-2 pistol, you’ll see on the front page that it covers the 952-1, 952-2 and the
952-3 pistols. And you may think uhhhh the what, 952-3…?
The 952-3 does exist, it was made for distribution in Europe, I believe Italy specifically, and it is chambered in 9x21 as I believe the 9x19 is not legal for civilian ownership/use in that country.
And I simply bring up the 952-3 because it was a blued pistol — and looks exactly like the non-billboard 952-1 that you’re chasing.
I suppose it’s absolutely possible that the 952-3 was made at some date later than this September, 2009 factory letter, and as we all well know, S&W was never in the game of making collectibles or necessarily keeping tabs on odd production trivia.
That’s our role here in the lunatic fringe and I think we do a fair job of it!