Howdy
It is easy to determine if your Iver Johnson can be shot with modern Smokeless ammo. Around the turn of the Century, the Iver Johnson completely redesigned their revolvers to be safe for Smokeless powder. This is one of them. There are three identifying characteristics.
1. The little owl on the grips is looking backwards, away from the gun.
2. If you remove the grips, you will find a coil spring underneath for the hammer.
3. Notice the shape of the locking slots on the cylinder that engage the bolt. Notice that there is a hard edge both at the top and bottom, so that the bolt is completely captured by the slot.
As long as it is in good condition, this gun is safe to be fired with Smokeless ammo.
Now, compare that to this gun.
1. The little owl is facing forward.
2. The hammer spring is a leaf spring
3. The bolt only engages one end of the slot, the hand keeps the cylinder from rotating backwards.
This is a Black Powder era Iver Johnson. It is not safe to shoot with modern Smokeless ammunition.