Have one very similar condition that dates to 1909. Carried by my late wife's grandfather as Under Sheriff of Creek County, OK.
Does yours function in both single and double action modes? The lockwork is hard to get adjusted properly so fully functioning units bring much higher prices than poorly functioning. Leaf type main spring ends to break. Cartridge is 38 Long Colt, not 38 S&W or 38 SPL.. The Colt used a bullet with a reduced diameter base so the balance of bullet was same diameter as outside of case, like a 22LR. Yours is older than mine. My serial is 1411xx and dates to 1909. Your 77471 would be a few years older.
Yes I think they would be fun to fire. I bought 100 rounds of 38 Short Colt brass that I load for use in the 38 snub nose just for gallery type loads. About 700-750 fps, a really fun load. They would be safe in that gun. Maybe even load some with black powder just for the effect.
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