My new .32 I-Frame and a few restoration questions.

[blakbird86]

Well, I say it's mine but its actually being held for me at the pawn shop. This will be my first firearm I've ever owned and it seems like a nice little gun. It has the rounded butt with pearl grips and (i believe) nickel finish. After poking around here a bit, I'm reasonably sure it's a HE 3rd Model serial# 279xxx. I figure it's pre-war at least because of the half moon front sight. The gentleman wanted $185 before tax, and it seems in good condition. There is virtually no side-to-side or front-to-back play, and the trigger pull seems a bit heavy but maybe that's just me. I have no idea how the % of finish is calculated but there are a couple of black spots that look like really old rust on the frame. I figure those can be polished out, but what irks me the most (which I didn't notice before I laid down the cash) is that there is definitely some corrosion on the back of the cylinder, it looks like its eaten through the plating and down to bare metal. I'm assuming I have 2 options to address this matter:
A.) have the cylinder completely refinished.
B.) get a replacement.

These pistols from what I've read aren't terribly collectible, but still I'd hate to ruin what value it does have. What would you folks recommend? Btw I will definitely post some pics just as soon as it transfers into my possesion

 

[DCWilson]

Welcome to the forum. That sounds like a nice little revolver, and I'm looking forward to seeing photos.

With that serial number the revolver is a little older than you think; if you lettered it (don't; probably not worth the expense) you would probably find it shipped in 1919.

I would not refinish any part of that gun. You can work on it to keep any corrosion or staining from getting worse, but the basic rule is that you never get your money back out of refinishing a gun. It has earned its scars and wears its life on its face. It deserves to be allowed to age in its own way.

 

[pwhphd]

Shooting it will not affect its value...refinishing it will! I think you should clean it, shoot it, and enjoy it.

 

[TACC1]

Yeah, What they said,...

Congrats on a nice find. I wouldn't even think about the price.
A S&W in good shootable condition is worth whatever you spent on it at the time. After all, what's a firearm worth if you don't have one when you want one?
I have gotten to be a big fan of the hand ejectors, and am eagerly
awaiting your pics. TACC1

 

[blakbird86]

A few pics

Put down $40 more today, not much but I'm getting closer I didn't have a camera with me so I took some photos with my phone. I love how the grips are still all intact and it just keeps looking better and better every time I go in...While I got my visiting time with her, the gentleman behind the counter showed me another little I-frame he just got in, same thing except it's blued with walnut(?) grips and noticeably rougher condition then this one. I didn't get any pics unfortunately but I got a feeling it's coming home with me soon enough as well...Guys, I totally have the I-Frame Fever. What do I do?!?!