Well.........says he, warming to the subject.
In the early 1930s Smith and Wesson responded to requests from law enforcement agencies for a more powerful 38 caliber revolver than the standard K frame Military and Police revolvers they were making at the time. S&W came up with a new high velocity loading for the 38 Special cartridge, but felt the pressure it developed was too much for the cylinder of a K frame revolver. The larger N frame seemed the perfect platform for the new cartridge. N frame revolvers were usually chambered for 44 and 45 caliber cartridges, so by chambering the large cylinder for six 38 Special chambers, there was extra steel remaining between chambers for the extra strength needed for the high velocity 38 Special rounds. The new revolvers were called the 38-44 revolvers, because they were 38 caliber but built on frames usually reserved for 44 caliber revolvers. There were two versions, the 38-44 Heavy Duty, with fixed sights, and the 38-44 Outdoorsman, with adjustable sights. The special high velocity rounds were called 38-44 S&W Special and later were called 38 Special High Velocity.
This 38-44 Heavy Duty revolver shipped in 1931.
The problem with this arrangement was that the high velocity 38-44 round was dimensionally the same as a standard 38 Special, and could be accidentally loaded into a standard K frame revolver with potentially disastrous results.
So in 1935 S&W lengthened the case of the 38 Special High Velocity round by about 1/10" so it could not be loaded into a standard 38 Special revolver. The new round was dubbed the 357 Magnum. Legend has it that Douglas Wesson, grandson of founder D. B. Wesson was a wine aficionado, and since a big bottle of wine is called a Magnum, Douglas thought this was a good name.
In any case, a new revolver was developed for the new round. It was basically a fancy version of the 38-44 Outdoorsman, with the chambers lengthened to accommodate the 357 Magnum round.
The new revolver was named simply The 357 Magnum. S&W came up with a clever marketing marketing campaign at this time. The new revolvers were made to order, with many different barrel lengths available, different styles of front sights, blue or nickel plated finishes, and standard service grips or Magna grips. Another feature that was standard on the 357 Magnum revolvers was the top strap and barrel rib received a distinctive checkered pattern. In addition, each revolver came with a registration form for the owner to fill out. The factory kept records of who ordered each revolver, and each revolver was stamped with a registration number, in addition to the serial number.
These revolvers were known as the Registered Magnums. They were the flagship model of the S&W revolver line.
The Registered Magnum program did not last very long, the factory could not keep up with the demand for the custom revolvers. By 1939 the Registered Magnum program had ceased, and all the 357 Magnum revolvers produced after that reverted to the name 357 Magnum.
In 1957 Smith and Wesson adopted a new numbering system for cataloging their firearms. The original large frame 357 Magnum revolver became the Model 27 at that point.
This 6" Model 27 shipped in 1959.
Barrel lengths for the Model 27 were originally 3 1/2" and 5". Later, barrel lengths of 4", 6", 6 1/2", and 8 3/8" were available. Finish was either blue or nickel plated. The distinctive checkering on the top strap and barrel rib remained a feature of the Model 27. In this photo, a Model 27 is in front, a Model 19 is at the rear.
SN N214351 shipped sometime between 1974 and 1977.
These days, I would say $850 is a fair price for a Model 27 in really good shape.
