Pre-Model 10 (I think) Date of Manufacture

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Your .38 Military & Police hand ejector likely shipped in the early 1930's. I see guns with serials around yours shipping from 1930 to 1935. The grips are post-WWII sharp shouldered magnas. Your guns would have shipped with checkered walnut, diamond centered round top service grips with a silver medallion. The magnas are valuable on their own and are better to grasp for shooting.
 
The defacement of the frame below the cylinder latch is lamentable, although it ought not affect its serviceability. For what it's worth, serial number 612507 shipped in March of 1931.
 
As noted above, you have a .38 Military & Police from the 1930s. Collectors refer to a pre Model 10 as having the same characteristics as a model marked Model 10. The most distinctive difference is that the pre Model 10 has the post WW II (introduced about April 1948) short action. Your revolver has the older long action.
 
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