olskool:
In 2006 the Standard Catalog of S&W gave the following values:
As New In Box: $1200, Excellent Plus: $450, Excellent: $335, Very Good $250, Good $200, Fair $135. We'd need a hi res photos of both sides and info on whether the timing is correct to be able to categorize it.
JLBANTA:
Barrel length should be either 4 inches with a ramp front sight or 6 inches with a square cut front sight.
If a 6 inch barrel then it's a K22 Masterpiece (later the Model 17).
In 2006 the standard catalog of S&W gave the following values:
ANIB $750, Excellent $600, Very Good $425, Good $350, Fair $250, Poor $185.
If a 4 inch barrel then it's a K-22 Combat Masterpiece (later the Model 18)
In 2006 the standard catalog of S&W gave the following values:
ANIB $525, Excellent $435, Very Good $350, Good $285, Fair $235, Poor $135. Pre model 18s do seem to be going for a bit more than that lately.
Either way, your gun was made in 1954.
blevins:
The only way to be 100% sure is to get a factory letter from Roy Jinks the S&W historian at a cost of $50.00.
S&W color case hardened all their triggers until stainless steel guns became available, when flash chrome for these parts was introduced. color case hardening gave a straw color finish.
Per the Standard Catalog of S&W, post war production of the Military & Police began at S811120 in September 1945, so yours probably dates to late 1945 or early 1946. It has the old long hammer, which is often associated with a very nice double action trigger pull. The original grips would have been checkered walnut. If the grips are real mother of pearl with a S&W emblem inset then they are factory originals. Plastic grips would be aftermarket.