The accompanying factory letter states the revolver was shipped on February 13, 1905 and delivered to E.K. Tryon Co., Philadelphia, PA with a 6 inch barrel, adjustable target rear sight, blue finish and checkered black hard rubber grips. This shipment was for 5 units. In the letter, S&W historian Roy Jinks concluded that the included "case was probably added by the Tryon Co., as they were a large supplier of specialty items." The revolver's configuration, including the rare and highly desirable target rear sight, is confirmed by the factory letter. Matching serial numbers are visible on the butt, right grip panel, barrel, and cylinder. The French cut, suede lined oak case contains a box of UMC .32 S&W Long cartridges (42/50 cartridges), a C.&J.W. Hawksley oiler, a modern screwdriver, two bore brushes, and a case key. The silver inscription plaque featured on the exterior of the lid has the engraved initials "R.A.C."

Excellent, retaining 97% original blue finish with slight muzzle and edge wear and a series of dings on the underside of the barrel. Nearly all original case colors remain on the hammer and trigger. The grips are also excellent with crisp checkering. Mechanically excellent. The case is very fine with some minor handling/storage marks. A highly attractive, desirable cased S&W .32 Hand Ejector Model of 1903 Target revolver.