Welcome back to the Forum! My 642-2 exhibits some signs of finish wear, mostly from EDC in a pocket holster. Clear coat is wearing off, I suppose, but it's just something I ignore. Your 342 however, appears to have some serious issues beyond clear coat. Did you buy it new? How long have you had it? If the damage is not something that you did or exposed it to, then perhaps a call to S&W is in order.