Prior to World War Two the British (and by extension their Empire and Commonwealth) adopted a .38 caliber, top-break revolver that used the equivalent of the .38 S&W cartridge loaded with a 200-grain bullet. A shorter length cartridge was necessary to work in the top-break style revolver.
Shortly after the war started in Europe, the British realized that they were woefully short of handguns, so they contracted with both Smith & Wesson and Colt to make U.S.-style hand ejector revolvers chambered to use their service cartridge – which was the .38 S&W rather then the .38 Special. They continued to use these revolvers as late as the Korean War.
The initial shipments of S&W .38-200 M&P revolvers was made between 1940 and early 1942, and were purchased directly by the British and other related countries, with Winchester Arms Co. acting as their representative.
Prior to March 1940 S&W had never made the .38 Military & Police revolver, chambered in .38 S&W.
Following the Japanese attack on Pearl Harbor in December 1941, arrangements were made to supply the British with Smith & Wesson .38-200 revolvers through the Lend Lease program. At the same time S&W adopted a new serial number series starting at V –1 (Note the “V” prefix) and all subsequent World War Two production used the “V” prefix. These were called “Victory Models,” and versions were made in .38 Special for the United States, while .38-200 production continued for the British, although a number of them were retained for use in this country.
I estimate that the revolver you have (V289,8xx) was probably made during late 1942 or early 1943, and would have been sand-blasted and Parkerized, not blued.
Following the Korean War, the .38-200 revolvers of all makes, but Smith & Wesson’s in particular were declared surplus, and many were sold to distributors or dealers in the United States. Because the .38 Smith & Wesson cartridge wasn’t particularly popular here, many were rechambered to .38 Special (which in effect ruined the chambers) by various gunsmithing firms, including Cogswell & Harrison Ltd. in London. While the work was well done they effectively ended any collector’s value, and substantially reduced their worth as a shooter. They also made other modifications such as shortening barrels, mounting new front sights, refinishing (both blue and nickel plate) and replacing the stocks.
These modified revolvers are often offered for sale, and usually sell in a range running from about $175.00 to $250.00. Buyers often have no idea what they are buying, but are attracted by the (usually) low prices.
If there is anyone who can collaborate your story as it is posted here, I would report what happened to what ever police department has jurisdiction where the show was held. If an investigator needs additional information from verifiable references I will be glad to provide them. In addition this incident should be reported to show management.
Old Fuff