This is one of only 94 K-32 Hand Ejector Target revolvers Smith & Wesson manufactured from 1936 to 1941 per "Standard Catalog of Smith & Wesson" by Supica and Nahas. These revolvers are found in the approximate 653388-682207 serial number range and are built on the .38 Military & Police of the 1905, 4th Change frame and pinned 6 inch round barrel. This example (no. 653372) falls just short of the accepted start of the serial number range. It is one of the rarest pre-war K frame revolvers manufactured by S&W with only approximately 94 manufactured. After World War II this model became part of the K-22/K-32/K-38 Masterpiece series of target revolvers. The accompanying factory letter states the revolver was ordered through Von Lengerke & Antonio Co. of Chicago, Illinois, shipped on March 13, 1936, and delivered to Walter L. Palla of Princeton, Illinois, with a 6 inch barrel in .32 S&W Long caliber, blue finish, .38 M&P target frame, and sights set for a 6 o'clock hold. It was billed at $25.99, and it is not often that we catalog S&W shipped to an individual. These were special order revolvers offered by S&W before the formal announcement to the public that the gun was available for general sales, and in the factory records these extremely rare pre-war revolvers are listed as a .38 M&P Target in .32 caliber. The checkered silver S&W medallion grips are numbered to another gun. Matching serial numbers appear on the butt, cylinder, and barrel.