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Yes, it is a Model of 1953 .22/32 Kit Gun, built on the New I frame. It was designated "New" because the grip frame was 1/8" longer than previous models, and the screw in front of the trigger guard was eliminated. In the previous version (Improved I frame), the main spring was changed from a flat spring to a coil spring, which facilitated the removal of the screw in the front strap of the grip frame. Based on the serial number, your gun is a fairly early one, probably shipping in late '53 or early '54. The first serial number for this model was 101.
Based on the pictures, you have a nice shooter grade gun, with a value in the $500 range. I have one shipped in 1956 and it is a real joy to shoot.
I would definitely keep it far away from that leather holster in the first picture. What rust there is on the gun is likely the result of long term holster storage.
Light buffing with oiled 0000 steel wool should clean it up a bit.
I second the holster-storage comment, I didn’t know that a tanned holster could do that when I stored a revolver in a leather holster. A Bianchi shoulder rig took the bluing off of the side of the barrel of my M-19 2.5” revolver
Once HIGHLY sought after when my generation was young. Now, sought by collectors too, more's the pity as the prices are high. These were DIRT cheap in the 70's to the point of some friends having a couple-few in various tackle boxes, back packs, glove boxes and such.
That, with two Federal snake shots and 4 "HP"s was with my quite a little bit when all my peers were insanely infatuated with Rugers, High Standards and the like.
Thats nice. You dont run across those too often. I found this 1955 2/2/32 Airweight kit gun at a show last year. It was incorrectly tagged as a pre34, instead of a pre43
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