.357 question

[BC38]

Wow, you sure know how to start a first thread! From what I am reading in the letter what I'm seeing, what you have there is a rare 357 N-frame Registered Magnum. One of THE most sought after and collectible of all S&W revolvers - with an original box AND a factory letter no less!

Both the revolver and box appear to be in good, though not excellent condition. Some of the experts will be along to give you a more accurate value shortly, but be sure you're sitting down. My first guess would be somewhere in the $3000-$4000 range. But I am far from an expert.

 

[Targets Guy]

It sure isn't a Model 36. welcome to the board and enjoy your very fine handgun.

 

[Jack Flash]

I agree that it is a 5" barrel. My guess is that it is worth more than $1,000.

 

[deyomatic]

It has some wear, but it's a 5" Pre-27 with (half) a letter. I would say to buy it, $1500 +/- would be a good place to start only based on the wear. To insure, go higher than that for sentimental value. Keep an eye on Gun Broker for Pre-27s. I believe this would be an Unregistered Magnum, or it would have had a REG number.

Sorry for your loss. This is a keeper.

 

[Art Doc]

Ignore the comment saying it's a Registered Magnum. It is not. It is a mid 1950s "357 Magnum" which became the Model 27 in 1957. It has a 5" barrel and is a good shooter grade gun. You have the first page of a letter on the 357 and the second page of a letter on a Model 36.

 

[BC38]

Ignore the comment saying it's a Registered Magnum. It is not. It is a mid 1950s "357 Magnum" which became the Model 27 in 1957. It has a 5" barrel and is a good shooter grade gun. You have the first page of a letter on the 357 and the second page of a letter on a Model 36.

SaxonPig is of course correct. My bad. I got all caught up in the first part of the letter DESCRIBING the history of the Registered Magnums and missed the part in the last line that said your specific gun was manufactured AFTER they discontinued the "registering" of the magnums. Sorry. Mea Culpa.
My apologies.

 

[rog8732]

Pretty clear why the O P was confused by what he has, judging by the letters. Glad you didn't get talked into selling as a 36-1.

Nice post, and you took to that picture presentation just fine.

 

[A10]

Congratulations on your nice .357! Many people consider the 5" barrel to be the perfect iteration of the N frame revolver. Were it mine Id insure it for 1500 dollars, for replacement value. Were I interested in selling it. I'd start at 1400 and negotiate from there. 1200 would be a fair price in my area.

 

[Hondo44]

The serial number on the gun matches the one in the letter. My grandfather and great uncle must have asked about two different pistols. I don't know what they wrote to S&W and they have both long since passed away. The revolver clearly says .357 on the side, so I know what I have here. It has a 4 inch barrel.

Someone, maybe in your family, has a Model 36 -1 .38 Chiefs Special Target with another letter that you have page two of, and they have page two of your letter.

The missing second page of your 357 Magnum letter has more information confirming the highly desirable 5" barrel originality, if it is original.

Whoever ended up with the 3" Model 36-1 .38 Chiefs Special Target model also has a highly collectible S&W confirmed as factory original in the second page you have. Does anyone in your family have a revolver that looks like this? There were only 213 made in 1975 in the serial # range 2J3134 - 2J3347:

 

[BUFF]

The second page is confusing to me. Model 36-1 means 3 inch heavy barrel. Usually fixed sights, pretty unusual with adjustable sights. Did your Gramps have a target sighted Model 36?

OP: Welcome and good job. I been here for years and have never posted a picture!

 

[Texas Star]

Try to find the first page of the M-36-1 letter. As noted here, only a few of that model were specially made with adj. sights. It is a rare gun, and a very fine small trail gun, too.

Jinks must have noted on the first page that this was one of the rare ones with target sights. He was probably going by serial number indicating that feature.

 

[JIMF1968]

My great uncle had both pistols (according to my uncle who remembers the revolvers and the situation). He had bought them brand-new way back when. He was desperate for money and wanted to keep them in the family, so grandpa bought the .357 and another great uncle bought the .38--which was later sold to a cousin of mine (who I have not seen in 30 years or more). My uncle says that they probably mixed up the letters as you all figured out. Grandpa paid $300 for the .357 in the early 1980s.

 

[deyomatic]

Sounds like a fun caper. Find that Cousin!

 

[Jack Flash]

... Grandpa paid $300 for the .357 in the early 1980s.

Back then, that price was probably fair to everyone. Maybe even a little generous on Grandpa's part.

 

[JIMF1968]

That is what he told me: "I paid too much for it, but he needed money." That was when we were down in one of the pastures shooting it. I inherited it from him, along with a few other guns. I'll never sell it, of course, but I wanted an estimated value for insurance. Thanks to all of you who chimed in. I learned a lot! I'll be contact S&W to see if I can get the complete letter. And will try to find my cousin . . .

 

[deyomatic]

PLEASE keep us posted.

 

[Jack Flash]

Just for reference, I pulled out a 1980 Gun Digest to see the MSRP for a new M27 at that time. You could get one with a 3.5, 5, or 6 inch barrel, Bright Blue or Nickel, for $303. If you needed the 8-3/8 inch barrel, that would cost an extra $11.

Keep in mind that the MSRP was often discounted, so I would assume $300 would easily cover a new one, tax and all, at that time. Naturally, the revolver in question is of 1950s vintage and I have no idea what the collector market was at the time. My guess is that your Great Uncle would have been really lucky to get $200 for it back then. Your Grandpa was very good to him.

 

[JSW]

Despite the letter confusion you have a nice 1950's 357 with what appears to be a non-factory front sight insert. Great shooter gun, you should take it out and enjoy it!

 

[DWalt]

I think the situation is very clear now. The second page of the letter probably goes with another letter. You have a pre-Model 27, a very desirable revolver. However, those made prior to WWII (known as "Registered Magnums, and a little later as "Non-registered Magnums") have a substantially higher value than those made during the post-war era. For insurance purposes, I'd suggest going to $2000.

 

[Hondo44]

That is what he told me: "I paid too much for it, but he needed money." That was when we were down in one of the pastures shooting it. I inherited it from him, along with a few other guns. I'll never sell it, of course, but I wanted an estimated value for insurance. Thanks to all of you who chimed in. I learned a lot! I'll be contact S&W to see if I can get the complete letter. And will try to find my cousin . . .

Roy responded to a question about getting copies of an old letter awhile back. He'll have to do a new letter because he only keeps copies of letters about a year for privacy sake.