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The position of the pins plus the serial number indicates that the gun is a .32 caliber, Double Action, Fourth Model, made from 1883 to 1909, serial numbers 43406 to 282999. (Serial numbers below approximately 209,300 are antiques under Federal law, made before 1 Jan 1899.)
The squareback guard could have been put on as a matter of using up old parts, but by that number it was probably either a special order or a replacement. (The Third, Fourth and Fifth Model trigger guards interchange, but most Third Model guards still had the square back.)
Jim
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