Originally posted by Meztiso:
Is there a difference in value of the older models with the firing pin on the hammer and no-lock vs. the new relocated firing pin in the frame and lock models?
Getting back to the OP's question about the
value...
It depends on the gun. Much of it has to do with the relative rarity of the hammer-mounted models versus the floating-pin models. Generally, the longer the production run with the hammer-mounted pin, the less the floating pin hurts the value, because the hammer-mounted pin models are relatively more common. I'll cite some examples.
It usually doesn't amount to a hill of beans on a Model 10 aka .38 M&P, because the gun was produced for almost 9 decades(!) with the hammer-mounted pin. Most of them have the hammer-mounted pin. Value will be more dependent on the condition of the gun than the presence of the hammer-mounted pin.
The hammer-mounted pin is often mentioned as a value enhancement on the 686 since it has only been produced since 1980. It has had the floating pin for the last 12 of those 29 years. The hammer-mounted-pin models may sell for ~5-10% more than the later models, but it varies depending on local market conditions.
The hammer-mounted pin makes the biggest difference on guns that only had brief production runs with it. Examples include the 610 (only produced 1989-1992 with the hammer-mounted pin); 629 Classic DX (1991-1997); and 637 & 638 (1989 only). In these cases, the hammer-mounted pin can add 20%+ to the value.
OTOH some Smiths have had much shorter production runs
with the floating pin, such as the 586 (1980-1997 hammer, 1997-1999 floating). I haven't seen many cases of the floating firing pin being claimed as a value enhancement on these guns, probably since they're still relatively new. OTOH it may become one as time passes.
Two other brief notes:
The dates of introduction of the floating firing pin and ILS do not coincide; the floating pins were added in 1996-1997 and the ILS appeared in 2001.
AFAIK rimfire S&W revolvers have
always had floating firing pins.