Produced in limited numbers from 1924 to 1936 it is one of approximately 957 manufactured. Fixed front sight and notch rear sight. Two line address on top of barrel, "SMITH & WESSON" on the left and "32 AUTO.CTG" on the right. Serrated front strap safety. Two-piece smooth walnut grips with inlaid Smith & Wesson medallions. All markings are highlighted in white.

Very fine to excellent retaining about 95% plus original blue finish overall. Some high point edge wear and a few scattered handling marks on the slide. Frame has flaking and wear on the backstrap and showing only the slightest collector type handling marks. The grips rate very fine with some small pressure marks, nicks and dings. One of the most rare Smith & Wesson's produced in excellent condition.