You have a K38 Combat Masterpiece manufactured in 1950. In 1957 the Combat Masterpiece was designated the Model 15.
Per the Standard Catalog of S&W on 2006 the value in excellent condition was $375. A collector may pay a little bit more as it is an early gun from the second year of manufacture.
February 18, 2011, 11:36 PM
Even on what I would call a modern gun (1950), condition affects value and a picture would be needed to judge condition.
February 18, 2011, 11:52 PM
You gentlemen just made my day...The gun is in great shape except for honest holster wear..tight as can be...Reason I am so happy is I bought that with a police issue holser and belt with cuff case for under 2 bills.........
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