Help in setting the worth of a Model 58

[teesur]

For those wondering about the high prices being asked and received for Model 58s, there is a pretty good article on page 96 of the current, (May, 2013), isssue of "Guns and Ammo", magazine by J. Guthrie, entitled "My Holy Grail S&W".
Mr. Gutthrie takes us from when he was 13 years old and became enamored with his father's M-58, through his long search for one to have for his own, to the day his father called from a gun show and asked if he had "$900 or so lying around", telling that he had a M-58 cornered and asking should he buy it.
Mr. Guthrie told him to "Buy it now. I'll send you a bad check, buy it NOW"
He concludes by sayng "I may not die happy, but I'll die with a Model 58". (notice $900, or so).
For those looking to find a 58, this don't help prices much, national magazine and all, but for those who happen to have an old Model 58 in the dark recesses of a safe somewhere, it probably don't hurt too much
Read it if you get a chance and see what you think.
teesur.

 

[guzzi]

Understand that, they don't make them any more, glad i scored when I did! Get one while you can. jb

 

[TDC]

Hi teesur,

I haven't read the article but I can recall some of my own experiences with the 58...

Not only don't they make them anymore but there are fewer original guns around today than many people realize. I know many were modified and converted in my area.

Back in the 70's and during a time they were being produced many of us considered them "they ugly step child" of all the N frames available. It was a time when it seemed everyone's interest was in the full target, white outline, red ramped and wood cased N frames of the period.

The "plain Jane" model 58 was not only unpopular with law enforcement but the buying public as well. They'd languish in dealer cabinets sometimes for months before they could find a buyer. Some dealers had to accept a lowly Mod 58 as an incentive to receive a more popular model number from their distributor or jobber. I can recall buying several new ones for less than $120 each....

Some of us saw a great opportunity to pick up an N frame very cheaply and we'd add the necessary items to make it a "sexy" and more "acceptable" sidearm... We would take a Mod 58, add a 4 or 6" bull barrel and a Bomar Rib sight package, target or smoothed and polished trigger and a target hammer, do an action job and a re-finish. Some were converted to other calibers.

The end result was a fine target or hunting revolver that could at least match the pride of ownership of the cased guns of their day. Many times the total investment was less than the inflated scalper prices the premium and short supply N frames were selling for at the time....

My, how time can change everything! Today one of the most sought after N frames is the "glamorous" model 58 in it's original P&R form, commonly generating more money for those foolish enough sell one than their prettier presentation cased siblings.

If we only had all the disrespected Mod 58's that so easily slipped through our hands in their day.

 

[teesur]

Greetings TDC,
I remember very well the days when the 58 was the low man on the S&W totem pole. In the mid-seventies I went to a large S&W distributor's show room looking for a good 4" shooter for a camp/saddle-bag/ truck gun. They offered me a new Model 58 or a new Model 13-1 for the same price, (I think about $150.00). I still have the 13-1.
teesur.

 

[mikeruns]

I read the back page and noticed the photo was of a classic 58.....the writer didn't mention the vintage, but maybe it does'nt matter....I have an original 1968 vintage one and I certainly understand the quest for these. I stumbled upon mine in about 1990 or '92 not knowing they existed and paid under 2 bills for it....I imagine it's worth $500-$700 depending on how bad someone wanted it scenario (nfs)...cheers and good luck, Mike

 

[glenncal1]

There was a SFPD 58 on one of the auction sites (don't remember which one) a couple months ago, went for something like $1800.

 

[LEO918]

I have a new in the box nickel M-58 that I paid $900 for about two years ago. Number matching grey box, tools and papers. I'm still smiling.

 

[SuperMan]

One can still find reasonably priced 58s. A very clean blue N prefix with Pachmayer grips sold last week for $710.00 on GunBroker. If it had the original numbered to the gun PC Magnas it would have probably brought about $100 or so more. There are far more of these floating around than .41 Mountain Guns that bring a lot more money than a 58 will...

I have owned about a dozen over the years from the first nickel one I bought in 1973. Still have three and they are fun shooters...

Bob

 

[crsides]

Believe it or not, a like condition M58 will bring more and sell faster than a like condition M57.


Charlie