Help Identifying Great Grandfather's Revolver

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This was recently passed on to me and belonged to my great grandfather. Has been displayed in frame and stored for many years. I know very little and would like to learn as much about this model and caliber as possible. Curious to know approximate value or range for insurance purposes.
Action is operational and piece is in excellent working condition for age. This piece has piqued my interest in antique firearms and hope this is the beginning of a new hobby!

Top of barrel is stamped Smith & Wesson, Springfield, Mass

Cylinder is stamped Patented April 5, 1855 July 5, 1859 & December 18,1860

Please see attached pictures for additional details.
 

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Hi There,

Welcome to the Forum!

What you have there is a .22 S&W Model #1, 2nd. Issue.
These were made from 1860 to 1868 (serial # range: 11672
to 126361). The Second Issue serial numbers were a contin-
uation of the First Model.

The characters on the breech of the barrel and the front of
the cylinder are known as "assembly" numbers. These can
be letters, numbers or any type of character. They are stamped
on the barrel breech, the front of the cylinder and on the right-
hand side of the grip frame near the heel. These should match
on an all original example.

Cheers!
Webb
 
Welcome to the Forum! That is one of the cleanest Model 1 revolvers I have seen in a long time. Most are suffering from corrosive primers and black powder use and one can hardly read the assembly numbers. Your gun has either not been shot much or your ancestors took great care of that one! The frame of these guns were brass and silver plated so light loadings were required back in the day. You would find that a 22 Short with black powder and light bullet is lucky to stick in a wood plank, let alone penetrate. I have shot one of mine with CCI 22 CB Short with everything going well, except it shot over 6" high and only 4 of 7 shots landing on paper at 10 yards. I have shot original factory black powder loads, that tested at about 600 fps. CCI 22 CB Short tested were running just under 500 fps so would not be afraid to shoot a few rounds through a gun in good working order.

The serial number indicates that your Model 1 was originally shipped from the factory around 1862. Many of these guns were originally bought to carry in the Civil War,. If your great grandfather was in that war, he may have had this little revolver with him then.P7260001.JPGP7010006.JPG
 
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Collecting these old revolvers from S&W can be a rewarding hobby. The fun in in the "chase" trying to find a good example. I did put together a set of 1st Model, 2nd Model, and 3rd Model, (as well as some in the .32 caliber (both rim fire and center fire).
The #1's

The .32's
 
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