This is one of about 94 K-32 Hand Ejector Target revolvers Smith & Wesson manufactured from 1936 to 1941. These revolvers are found in the 653388-682207 serial number range and are built on the square butt K target frame with 5 screws and pinned 6 inch round barrels. It is one of the rarest pre-war K frame revolvers manufactured by S&W. After World War II this model became part of the K-22/K-32/K-38 Masterpiece series of target revolvers. This example has a barrel marked "SMITH & WESSON" on the left side, "32 LONG CTG" on the right side and the two-line address/patent dates on top. The right side plate has a large S&W trademark, and the right side of the frame is marked "MADE IN U.S.A." The correct cylinder measures 1.56 inches long and is numbered to the gun. The barrel is also numbered to the gun, and the frame and crane have matching assembly number "11880." It is fitted with pinned blade and adjustable notch sights and aftermarket grips featuring fancy checkering and right handed thumb serrations. The checkered hammer and serrated trigger are casehardened. The grip straps are serrated.

Excellent. The revolver retains 98% original blue finish showing mild loss at the muzzle and a cylinder drag line. The hammer and trigger retain 97% plus vivid original case colors. The period custom grips are very fine with a repaired chip near the top of the left panel, a few minor handling marks and crisp checkering. An excellent example of an extremely rare revolver, one of less than 100, that will fill a gap in even the most advanced Smith & Wesson collections.