For those of you who have a sudden urge to take their J-Frame apart to get a better visual on the pin, no need to do so. Just refer to the image below where red dot represents a pin. As you can see it does not touch anything in either uncocked or cocked position. However in cocked position it sits very close to the release latch. So may be there is some kind of safety function this pin serves, although I still can not see what that function would be ...
P.S. Before anyone starts screaming: this is not a live ammo in the gun! All my caps are 357 and they don't fit, so I used empty shells for dry-firing
