The accompanying factory letter lists this revolver as a .38 Combat Masterpiece Pre-Model 15, Pre-Production prototype with a 4 inch barrel, blue finish and checkered walnut grips. The revolver was shipped on December 22, 1949, and delivered to famed American inventor and businessman John Olin of East Alton, Illinois. This revolver has a 5-screw frame, serrated ramp blade front and adjustable square notch rear sights and matching serial numbers on the butt, right grip panel, cylinder and barrel. There are standard S&W markings with the addition of "JOHN M. OLIN" engraved on the side plate. Before becoming a captain of industry in the field of firearms, John M. Olin (1892-1982) was first a chemical engineer working at his father's Western Cartridge Company, a predecessor of Olin Industries. When Western Cartridge and Winchester Repeating Arms Company merged in 1935 to create Winchester-Western, Olin became head of the Winchester division. He was the inventor or co-inventor of 24 U.S. patents in the manufacture and design of arms and ammunition and was responsible for numerous developments in ballistics, notably the Super-X shotgun shell. Olin was intimately involved from the start with Douglas B. Wesson, Vice President of Smith & Wesson, in the development, testing and early production of the new .357 Magnum cartridge. In 1944, following a reorganization of the company, Mr. Olin became president of Olin Industries. Ten years later he was named chairman of the board, a position he held until his retirement in 1963, having grown the corporate holdings to include; Olin Matheison Chemicals, Squibb Pharmaceuticals, Ecusta Paper and Olin Cellophane & Aluminum, in addition to Winchester and the Western Cartridge Company. Long recognized as premiere naturalist and conservationist, Olin founded Nilo (Olin spelled backward) Farms in Alton, Illinois, and established the Nilo Plantation outside Albany, Georgia. Nilo Farms was a hunting and shooting preserve dedicated to creating a wildlife and waterfowl habitat that, in conjunction with Cornell University, also became the primary medical research and development facility for the study of the Labrador retriever breed in the USA. The Nilo Plantation in Georgia was one of the world's finest quail and wildlife hunting and conservation areas in the nation. In addition, the John M. Olin Foundation, a conservative American grant-making foundation begun by Olin in 1953, disbursed over $370 million in funding, primarily to conservative think tanks, media outlets, and university law programs, before disbanding in 2003. The Federalist Society was one of most notable organizations the foundation supported.

Excellent, retaining 98% plus original bright blue finish showing minor handling marks and a light drag line and patch of spotting on the cylinder. 99% plus vivid original case colors remain. The grips are fine with some minor dings and scratches and crisp checkering overall. Mechanically excellent. S&W built only a small handful of Combat Masterpieces below the K86000 serial number range and 10 "test samples", which are found in the K75XXX range, were provided to factory representatives. This is a very rare, early Combat Masterpiece variation with a direct link to firearms industry titan John Olin that will make a perfect addition to any S&W collection.