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I was wondering how odd this is for a post war M&P revolver. The 5" barrel has the patent information on the top, the model 1905 type profile cut and ejector rod. All serial numbers match including the stocks; start with the "S" prefix. An "N" is present on the underside of the barrel as well as the left grip backstrap. Internally it has the hammer block safety. Also the one line address on the right side.

Could this be some sort of parts clean up on a frame made during the war and never shipped out of the factory?
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Not odd at all. You have a post war M&P revolver, as described on page 168 of the Standard Catalog of S&W. Production started at SN S811120 and went to a million. Then, the "C" prefix started. I have 4 of them, and there's a bunch for sale online right now. Nickel guns of this vintage were marked with an "N" on the barrel flat and on the left side of the grip frame. Nickel guns in good shape are getting hard to find. The ejector rod had a barrel nut end in earlier production and a knurled end in later production. I've narrowed it down to between barrel nut at S871603 and knurled end at S886378. These were made with 2, 4, 5, and 6 inch barrels, and with square butts and really scarce round butts. Some very early production had pre-war style magna stocks, and machined steel stock circles. Some early production also shipped in pre-war, maroon boxes, and later production in the gold picture boxes. Condition is everything when it comes to price with these. Average guns are selling around $450, and I saw 1 "as new, unfired, in the original box" gun sell for $1200. So, get her back together and have some fun shooting!
 
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