This model was the first time S&W made a revolver with a swing-out cylinder. Interestingly, there is no cylinder latch; but the action opens by pulling forward on the exposed portion of the cylinder pin. This frees the spring tension and allows the cylinder to swing free. Another novel feature of this model is the cylinder stop location, which is located in the top of the frame over the cylinder. Chambered for .32 S&W Long cartridge, has a 6-shot fluted cylinder and offered with 3.25", 4.25" and 6" long barrels. Available with a round or square butt, has checkered hard rubber grips and is blued or nickel-plated. Factory installed target sights were available by special order. Company name, address and patent dates are stamped on the cylinder instead of barrel. Approximately 19,712 manufactured between 1896 and 1903.

Quite different from its predecessor. Cylinder locks front and back; cylinder stop located in bottom of frame and familiar sliding cylinder latch found on left side of frame. Barrel lengths 3.25, 4.25 and 6 in. The 6-shot cylinder is fluted. Chambered for .32 S&W Long. Offered blued or nickel-plated. Round butt grips are checkered hard rubber. Approximately 19,425 manufactured in 1903 and 1904; serial number range 1 to 19425.

Collectors recognize five changes of the .32 HE Model of 1903. Values are similar for all five, impacted a bit by scarcity of production. The identifying characteristics of the five changes are listed below, following values.

Serial number range 19426 to 51126. Approximately 31,700 manufactured between 1904 and 1906.

Produced from 1906 to 1909. Serial number range 51127 to 95500. Total of 44,373 manufactured.

Produced from 1909 to 1910. Serial number range 95501 to 96125. Total of 624 manufactured.

Produced in 1910. Serial number range 96126 to 102500. Total of 6,374 manufactured.

Produced from 1910-1917. Serial number range 102500-263000. Total of 160,500 manufactured.

Produced from 1911 to 1942. Serial number range 263001 to 536684. Total of 273,683 manufactured.

Similar to 3rd Model, Produced from 1911-1942. Serial number range 536685-712953.

Wide serial range from 260000-536000. Made from 1917-1942. Serial number on the front tang. Not Regulation Police marked. Target Models available at 3X standard model.

Wide serial range from about 536000-712953. Made from 1946-1960. Not "Regulation Police" marked. 196 Target Models made available at 3X standard model.

One of the rarest pre-war K-frame revolvers. Chambered for .32 S&W Long cartridge. Fewer than 100 were made between 1936 and 1941. After WWII, this model was part of the K-22/K-32/K-38 Masterpiece series of 6-in. barreled target-sighted revolvers. Due to its rarity, an expert appraisal is essential. Serial range 653388-682207. Values are speculative due to rarity.

.32 Long. Postwar continued from the First Model with click adjustable sights. Wide serial range. Made 1946-1974.

S&W produced a limited number (estimated at 10) of 4-in. barreled K-32 revolvers. Never given a number designation, as they were discontinued before 1957 when the numbering system began.